Flowserve (NYSE:FLS) Downgraded by StockNews.com to “Buy”

Flowserve (NYSE:FLS) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

Several other research firms have also weighed in on FLS. Citigroup lifted their price objective on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Robert W. Baird lifted their target price on shares of Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Bank of America raised their price objective on Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. TD Cowen upped their target price on Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Mizuho reiterated a “buy” rating and set a $53.00 target price (up from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.82.

Flowserve Trading Up 0.4 %

Flowserve stock traded up $0.20 during trading on Monday, reaching $50.89. The company had a trading volume of 1,158,125 shares, compared to its average volume of 1,049,969. Flowserve has a 12-month low of $35.31 and a 12-month high of $52.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88. The stock’s 50 day moving average price is $48.57 and its two-hundred day moving average price is $45.91. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 1.32 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. Flowserve’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. As a group, equities analysts expect that Flowserve will post 2.66 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Robert Scott Rowe sold 42,269 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the sale, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Flowserve

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Flowserve by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after purchasing an additional 144,704 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Flowserve by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock valued at $82,595,000 after purchasing an additional 157,125 shares during the last quarter. Norges Bank purchased a new position in Flowserve in the 4th quarter worth about $59,261,000. Gabelli Funds LLC increased its position in shares of Flowserve by 1.3% in the first quarter. Gabelli Funds LLC now owns 1,283,016 shares of the industrial products company’s stock worth $58,608,000 after acquiring an additional 16,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Flowserve by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,259,002 shares of the industrial products company’s stock valued at $51,896,000 after acquiring an additional 24,449 shares during the period. Institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.