Flowserve Co. (NYSE:FLS) Given Average Recommendation of “Moderate Buy” by Analysts

Flowserve Co. (NYSE:FLS) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $61.30.

FLS has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $57.00 to $69.00 in a report on Friday. TD Cowen raised their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus upped their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th.

Institutional Trading of Flowserve

Large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new stake in shares of Flowserve during the 3rd quarter worth approximately $25,000. Signaturefd LLC grew its position in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Flowserve during the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve during the 3rd quarter worth approximately $29,000. Finally, nVerses Capital LLC bought a new position in shares of Flowserve in the second quarter worth $34,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 1.6 %

NYSE:FLS opened at $60.99 on Friday. The firm has a fifty day simple moving average of $54.10 and a two-hundred day simple moving average of $50.26. Flowserve has a 12 month low of $37.34 and a 12 month high of $62.15. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.44 and a beta of 1.38. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last posted 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 firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Analysts expect that Flowserve will post 2.72 EPS for the current fiscal year.

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.