Flowserve (FLS) Receives “Hold” Rating from Stifel Nicolaus

Flowserve (NYSE:FLS)‘s stock had its “hold” rating reissued by analysts at Stifel Nicolaus in a research report issued on Tuesday, Marketbeat reports. They currently have a $47.00 price objective on the industrial products company’s stock, up from their previous price objective of $43.00. Stifel Nicolaus’ price objective points to a potential upside of 6.82% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sell” rating and issued a $39.00 target price on shares of Flowserve in a report on Thursday, January 4th. Zacks Investment Research cut shares of Flowserve from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 target price on shares of Flowserve in a report on Friday, December 15th. Goldman Sachs Group cut shares of Flowserve from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $42.65 to $37.00 in a report on Thursday, December 7th. Finally, Seaport Global Securities cut shares of Flowserve from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $60.00 to $40.00 in a report on Friday, November 3rd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $43.92.

Flowserve (NYSE:FLS) traded up $0.53 during trading hours on Tuesday, reaching $44.00. 1,427,800 shares of the company traded hands, compared to its average volume of 1,009,122. Flowserve has a 1-year low of $37.51 and a 1-year high of $52.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30. The company has a market capitalization of $5,890.00, a price-to-earnings ratio of 35.77, a P/E/G ratio of 2.67 and a beta of 1.53.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The business had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. Flowserve’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. analysts anticipate that Flowserve will post 1.37 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLS. Federated Investors Inc. PA raised its holdings in shares of Flowserve by 1.8% during the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 46 shares during the last quarter. Eaton Vance Management raised its holdings in shares of Flowserve by 0.6% during the second quarter. Eaton Vance Management now owns 20,098 shares of the industrial products company’s stock valued at $933,000 after purchasing an additional 114 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Flowserve by 3.2% during the second quarter. Riverhead Capital Management LLC now owns 6,584 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 203 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Flowserve by 17.8% during the second quarter. Raymond James Trust N.A. now owns 5,101 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 769 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of Flowserve by 12.5% during the second quarter. Teachers Advisors LLC now owns 177,858 shares of the industrial products company’s stock valued at $8,258,000 after purchasing an additional 19,749 shares during the last quarter.

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About Flowserve

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analyst Recommendations for Flowserve (NYSE:FLS)

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