Susquehanna Bancshares Inc upgraded shares of Flowserve Corporation (NYSE:FLS) from a neutral rating to a positive rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have $46.00 price objective on the industrial products company’s stock, down from their prior price objective of $50.00.
Several other research firms have also recently commented on FLS. BMO Capital Markets upped their price target on Flowserve Corporation from $53.00 to $56.00 and gave the company an outperform rating in a report on Thursday, May 4th. Stifel Nicolaus reaffirmed a buy rating and issued a $55.00 price target (up previously from $53.00) on shares of Flowserve Corporation in a report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a sell rating and issued a $46.00 price target on shares of Flowserve Corporation in a report on Wednesday, May 3rd. BidaskClub raised Flowserve Corporation from a sell rating to a hold rating in a report on Tuesday, June 13th. Finally, Zacks Investment Research raised Flowserve Corporation from a strong sell rating to a hold rating in a report on Monday, April 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Flowserve Corporation currently has a consensus rating of Hold and a consensus target price of $48.36.
Shares of Flowserve Corporation (NYSE FLS) traded down 0.05% during midday trading on Tuesday, hitting $38.37. The stock had a trading volume of 443,400 shares. The firm has a 50-day moving average of $43.68 and a 200 day moving average of $47.01. The firm has a market cap of $5.01 billion, a PE ratio of 47.96 and a beta of 1.46. Flowserve Corporation has a 12-month low of $38.15 and a 12-month high of $52.10.
Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.43 by $0.21. The firm had revenue of $877 million during the quarter, compared to analyst estimates of $933.91 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The company’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. On average, analysts expect that Flowserve Corporation will post $1.43 earnings per share for the current year.
Several institutional investors have recently modified their holdings of FLS. Gateway Investment Advisers LLC raised its stake in Flowserve Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock worth $491,000 after buying an additional 30 shares during the period. CIBC Asset Management Inc raised its stake in Flowserve Corporation by 0.3% in the second quarter. CIBC Asset Management Inc now owns 13,385 shares of the industrial products company’s stock worth $621,000 after buying an additional 46 shares during the period. Federated Investors Inc. PA raised its stake in Flowserve Corporation by 1.8% in the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock worth $118,000 after buying an additional 46 shares during the period. Advantus Capital Management Inc raised its stake in Flowserve Corporation by 0.5% in the first quarter. Advantus Capital Management Inc now owns 12,978 shares of the industrial products company’s stock worth $628,000 after buying an additional 63 shares during the period. Finally, Stifel Financial Corp raised its stake in Flowserve Corporation by 0.5% in the first quarter. Stifel Financial Corp now owns 15,924 shares of the industrial products company’s stock worth $770,000 after buying an additional 83 shares during the period.
Flowserve Corporation 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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