Flowserve Corporation (FLS) Given Buy Rating at Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Flowserve Corporation (NYSE:FLS) in a research report released on Sunday. The firm currently has a $45.00 price target on the industrial products company’s stock.
A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Flowserve Corporation from a sell rating to a hold rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of Flowserve Corporation from a sell rating to a hold rating in a research note on Monday, July 17th. Wolfe Research started coverage on shares of Flowserve Corporation in a research note on Tuesday, July 11th. They issued an underperform rating and a $38.00 price target on the stock. Royal Bank Of Canada reiterated a sell rating and issued a $46.00 price target on shares of Flowserve Corporation in a research note on Tuesday, June 6th. Finally, BMO Capital Markets reiterated a buy rating and issued a $56.00 price target on shares of Flowserve Corporation in a research note on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $47.45.
Flowserve Corporation (FLS) traded up 0.66% during midday trading on Friday, hitting $39.54. 1,292,737 shares of the stock traded hands. Flowserve Corporation has a 52 week low of $37.51 and a 52 week high of $52.10. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 49.42 and a beta of 1.45. The stock’s 50-day moving average price is $41.40 and its 200 day moving average price is $46.13.
Flowserve Corporation (NYSE:FLS) last announced its earnings results on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.21. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The business had revenue of $877 million for the quarter, compared to the consensus estimate of $933.91 million. During the same quarter last year, the firm posted $0.57 EPS. The business’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities research analysts predict that Flowserve Corporation will post $1.43 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank lifted its stake in Flowserve Corporation by 28.0% during the 2nd quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 480 shares during the period. Harbour Capital Advisors LLC bought a new position in Flowserve Corporation during the 1st quarter valued at about $116,000. Creative Planning lifted its stake in Flowserve Corporation by 6.2% during the 2nd quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 141 shares during the period. Federated Investors Inc. PA lifted its stake in Flowserve Corporation by 1.8% during the 2nd quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 46 shares during the period. Finally, Evercore Wealth Management LLC lifted its stake in Flowserve Corporation by 41.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 756 shares during the period.
About Flowserve Corporation
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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