Flowserve Corp (FLS) Receives Average Recommendation of “Hold” from Brokerages
Shares of Flowserve Corp (NYSE:FLS) have been given a consensus rating of “Hold” by the sixteen brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $49.10.
FLS has been the subject of several research analyst reports. Seaport Global Securities reissued a “neutral” rating on shares of Flowserve in a research report on Thursday, November 8th. Stifel Nicolaus lifted their price target on shares of Flowserve from $47.00 to $52.00 and gave the company a “hold” rating in a report on Monday, October 8th. Morgan Stanley lowered shares of Flowserve from an “equal weight” rating to an “underweight” rating in a report on Tuesday, December 18th. Zacks Investment Research lowered shares of Flowserve from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Vertical Research raised shares of Flowserve from a “sell” rating to a “hold” rating and set a $43.00 price target for the company in a report on Friday, December 14th.
Flowserve stock traded down $0.08 during midday trading on Friday, hitting $41.55. 609,114 shares of the stock were exchanged, compared to its average volume of 1,111,627. Flowserve has a 1 year low of $35.88 and a 1 year high of $56.86. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.24 and a quick ratio of 1.60.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Friday, January 4th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, January 3rd. Flowserve’s payout ratio is 55.88%.
Institutional investors have recently bought and sold shares of the business. Girard Partners LTD. acquired a new position in Flowserve during the 3rd quarter valued at about $101,000. Zurich Insurance Group Ltd FI acquired a new position in Flowserve during the 2nd quarter valued at about $131,000. Ibex Investors LLC acquired a new position in Flowserve during the 3rd quarter valued at about $203,000. Visionary Asset Management Inc. acquired a new position in Flowserve during the 3rd quarter valued at about $218,000. Finally, Point72 Hong Kong Ltd acquired a new position in Flowserve during the 2nd quarter valued at about $163,000.
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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