Flowserve (NYSE:FLS) Stock Rating Lowered by StockNews.com

Flowserve (NYSE:FLS) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Several other brokerages also recently issued reports on FLS. Bank of America lifted their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho raised their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Citigroup boosted their target price on Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Finally, Stifel Nicolaus lifted their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.40.

Flowserve Trading Down 1.2 %

FLS stock opened at $57.78 on Friday. Flowserve has a 1-year low of $39.21 and a 1-year high of $62.32. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $58.47 and its 200-day moving average is $52.27. The firm has a market cap of $7.59 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.48 and a beta of 1.41.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. Equities analysts anticipate that Flowserve will post 2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new stake in shares of Flowserve during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new position in Flowserve in the third quarter valued at about $27,000. Wilmington Savings Fund Society FSB bought a new position in Flowserve during the third quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in Flowserve during the third quarter worth about $29,000. Finally, Signaturefd LLC grew its position in shares of Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after buying an additional 370 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.