Flowserve (NYSE:FLS)‘s stock had its “neutral” rating reiterated by analysts at Seaport Global Securities in a research note issued to investors on Thursday.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada upped their price objective on shares of Flowserve to $50.00 and gave the company an “average” rating in a research note on Friday. They noted that the move was a valuation call. ValuEngine raised shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research raised shares of Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, September 11th. Northcoast Research raised shares of Flowserve from a “neutral” rating to a “buy” rating in a research note on Thursday, September 13th. Finally, Morgan Stanley initiated coverage on shares of Flowserve in a research note on Monday, August 20th. They issued an “equal weight” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.71.

NYSE:FLS opened at $50.22 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.61 and a current ratio of 2.25. Flowserve has a 52 week low of $38.46 and a 52 week high of $56.86. The firm has a market capitalization of $6.43 billion, a PE ratio of 36.93, a PEG ratio of 1.68 and a beta of 1.55.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.07. Flowserve had a negative net margin of 1.27% and a positive return on equity of 11.59%. The company had revenue of $952.72 million for the quarter, compared to analyst estimates of $925.33 million. During the same period in the prior year, the firm posted $0.37 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Flowserve will post 1.71 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of FLS. Canada Pension Plan Investment Board raised its holdings in Flowserve by 1.6% during the third quarter. Canada Pension Plan Investment Board now owns 84,052 shares of the industrial products company’s stock worth $4,597,000 after buying an additional 1,300 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Flowserve by 10.4% during the second quarter. Russell Investments Group Ltd. now owns 13,961 shares of the industrial products company’s stock worth $561,000 after buying an additional 1,313 shares during the last quarter. Glen Harbor Capital Management LLC raised its holdings in Flowserve by 11.5% during the second quarter. Glen Harbor Capital Management LLC now owns 13,580 shares of the industrial products company’s stock worth $549,000 after buying an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Flowserve by 9.1% during the second quarter. PNC Financial Services Group Inc. now owns 19,377 shares of the industrial products company’s stock worth $783,000 after buying an additional 1,614 shares during the last quarter. Finally, Girard Partners LTD. acquired a new position in Flowserve during the third quarter worth $101,000.

About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Analyst Recommendations for Flowserve (NYSE:FLS)

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