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

Flowserve (NYSE:FLS) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

FLS has been the subject of several other reports. 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. Royal Bank of Canada cut their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday. Mizuho increased their price target on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Cowen lifted their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup decreased their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Stock Down 3.6 %

NYSE FLS opened at $55.38 on Thursday. Flowserve has a 1-year low of $41.60 and a 1-year high of $65.08. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.21 and a beta of 1.42. The stock’s 50 day moving average is $60.57 and its two-hundred day moving average is $55.78. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities analysts forecast that Flowserve will post 3.18 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. State Street Corp raised its stake in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after buying an additional 37,132 shares during the last quarter. Vestcor Inc bought a new stake in shares of Flowserve during the 3rd quarter valued at $714,000. Stifel Financial Corp lifted its stake in shares of Flowserve by 14.0% in the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after purchasing an additional 29,979 shares during the period. Algert Global LLC boosted its position in shares of Flowserve by 130.3% in the 3rd quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock worth $5,638,000 after purchasing an additional 61,710 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after purchasing an additional 422,141 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.