Flowserve (NYSE:FLS)‘s stock had its “neutral” rating reaffirmed by stock analysts at Seaport Global Securities in a research report issued to clients and investors on Thursday.
Several other brokerages have also recently issued reports on FLS. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, September 11th. BMO Capital Markets upped their price objective on Flowserve from $42.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, August 9th. Northcoast Research restated a “neutral” rating on shares of Flowserve in a research note on Thursday, August 9th. Oppenheimer restated a “hold” rating on shares of Flowserve in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus restated a “hold” rating and set a $47.00 price objective (up previously from $43.00) on shares of Flowserve in a research note on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Flowserve presently has an average rating of “Hold” and an average target price of $49.71.
Shares of FLS opened at $50.22 on Thursday. The stock has a market capitalization of $6.43 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 1.68 and a beta of 1.55. Flowserve has a one year low of $38.46 and a one year high of $56.86. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89.
Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.07. Flowserve had a positive return on equity of 11.59% and a negative net margin of 1.27%. The firm had revenue of $952.72 million for the quarter, compared to analysts’ expectations of $925.33 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Flowserve’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Flowserve will post 1.71 EPS for the current year.
Several institutional investors have recently made changes to their positions in FLS. International Value Advisers acquired a new stake in Flowserve in the 3rd quarter valued at approximately $52,883,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in Flowserve by 20.2% in the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 44,740 shares of the industrial products company’s stock valued at $2,158,000 after acquiring an additional 7,530 shares during the period. American Century Companies Inc. increased its position in Flowserve by 6.6% in the 2nd quarter. American Century Companies Inc. now owns 1,391,770 shares of the industrial products company’s stock valued at $62,866,000 after acquiring an additional 86,140 shares during the period. Principal Financial Group Inc. increased its position in Flowserve by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 503,636 shares of the industrial products company’s stock valued at $24,296,000 after acquiring an additional 38,568 shares during the period. Finally, Verition Fund Management LLC increased its position in Flowserve by 2.5% in the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 126 shares during the period.
Flowserve Company Profile
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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