Flowserve (NYSE:FLS) Now Covered by Jefferies Financial Group

Equities researchers at Jefferies Financial Group started coverage on shares of Flowserve (NYSE:FLS) in a report released on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $65.00 price target on the industrial products company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 19.24% from the company’s current price.

A number of other analysts also recently commented on the stock. Mizuho increased their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday. TD Cowen increased their price target on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird raised their target price on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

Flowserve Stock Down 0.5 %

Shares of FLS stock opened at $54.51 on Friday. The stock’s fifty day moving average price is $49.71 and its 200 day moving average price is $48.64. Flowserve has a 1-year low of $35.31 and a 1-year high of $55.90. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. On average, research analysts expect that Flowserve will post 2.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its stake in Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new position in Flowserve during the first quarter valued at approximately $41,413,000. Vaughan Nelson Investment Management L.P. acquired a new position in Flowserve in the 2nd quarter valued at approximately $37,100,000. AQR Capital Management LLC lifted its position in Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after buying an additional 663,631 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Flowserve by 5,256.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after buying an additional 600,866 shares during the period. Institutional investors own 93.93% of the company’s stock.

About Flowserve

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.