Flowserve (NYSE:FLS) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Flowserve (NYSE:FLS) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Several other equities research analysts also recently weighed in on FLS. Cowen reissued a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. UBS Group increased their price objective on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. TD Cowen upped their price target on shares of Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Citigroup lifted their price objective on shares of Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.33.

Flowserve Price Performance

NYSE FLS opened at $71.35 on Friday. The firm’s fifty day simple moving average is $60.03 and its two-hundred day simple moving average is $55.04. The firm has a market capitalization of $9.07 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.38 and a beta of 1.32. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.62. Flowserve has a 12-month low of $37.34 and a 12-month high of $72.08.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Analysts forecast that Flowserve will post 3.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Flowserve news, insider Lamar L. Duhon sold 1,609 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the sale, the insider directly owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Claire Hudson sold 10,667 shares of Flowserve stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the transaction, the insider owned 6,589 shares of the company’s stock, valued at $461,295.89. The trade was a 61.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,276 shares of company stock valued at $4,196,578 over the last 90 days. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in Flowserve by 3.9% in the third quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 157 shares during the period. Parallel Advisors LLC lifted its stake in shares of Flowserve by 20.1% in the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 162 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Flowserve by 0.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,128 shares of the industrial products company’s stock valued at $2,345,000 after purchasing an additional 200 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in Flowserve by 0.7% during the third quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock worth $1,456,000 after buying an additional 200 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Flowserve by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 45,527 shares of the industrial products company’s stock valued at $2,419,000 after buying an additional 217 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.