Flowserve (FLS) Lowered to Hold at Stifel Nicolaus
Stifel Nicolaus downgraded shares of Flowserve (NYSE:FLS) from a buy rating to a hold rating in a research note published on Monday morning. They currently have $43.00 price objective on the industrial products company’s stock.
Other equities analysts have also issued research reports about the stock. Robert W. Baird reissued a hold rating and issued a $43.00 price objective on shares of Flowserve in a research report on Wednesday, October 4th. KeyCorp reaffirmed a hold rating on shares of Flowserve in a research report on Thursday, September 28th. Boenning Scattergood reaffirmed a hold rating on shares of Flowserve in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Flowserve from a strong sell rating to a hold rating in a research report on Wednesday, October 18th. Finally, BMO Capital Markets lowered shares of Flowserve from an outperform rating to a market perform rating and dropped their price target for the stock from $51.00 to $41.00 in a research report on Friday, November 3rd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $43.17.
Flowserve (NYSE:FLS) traded down $0.54 during trading hours on Monday, hitting $41.59. 1,981,200 shares of the stock were exchanged, compared to its average volume of 1,414,100. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $5,503.65, a price-to-earnings ratio of 27.01, a PEG ratio of 3.41 and a beta of 1.53. Flowserve has a twelve month low of $37.51 and a twelve month high of $52.10.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC grew its stake in Flowserve by 2.2% during the third quarter. First Eagle Investment Management LLC now owns 13,059,375 shares of the industrial products company’s stock worth $556,199,000 after buying an additional 276,377 shares during the period. Vanguard Group Inc. grew its stake in Flowserve by 2.2% during the second quarter. Vanguard Group Inc. now owns 12,843,068 shares of the industrial products company’s stock worth $596,303,000 after buying an additional 272,324 shares during the period. BlackRock Inc. boosted its stake in shares of Flowserve by 2.8% in the second quarter. BlackRock Inc. now owns 8,194,771 shares of the industrial products company’s stock valued at $380,483,000 after purchasing an additional 222,016 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Flowserve by 22.2% in the second quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock valued at $292,855,000 after purchasing an additional 1,146,084 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Flowserve by 9.2% in the third quarter. Gamco Investors INC. ET AL now owns 2,816,277 shares of the industrial products company’s stock valued at $119,945,000 after purchasing an additional 236,752 shares during the period.
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Flowserve Company Profile
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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