Flowserve (NYSE:FLS) Rating Lowered to Buy at StockNews.com

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

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Mizuho boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus increased their target price on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, Robert W. Baird upped their price objective on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and an average price target of $64.40.

Flowserve Stock Performance

Shares of Flowserve stock opened at $57.78 on Friday. The stock’s fifty day simple moving average is $58.47 and its 200 day simple moving average is $52.27. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $7.59 billion, a PE ratio of 28.60, a PEG ratio of 1.48 and a beta of 1.41. Flowserve has a 12 month low of $39.21 and a 12 month high of $62.32.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts predict that Flowserve will post 2.71 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLS. True Wealth Design LLC acquired a new position in shares of Flowserve during the 3rd quarter worth approximately $25,000. Signaturefd LLC grew its stake in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after buying an additional 370 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Flowserve in the third quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve during the third quarter worth $29,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Flowserve in the third quarter valued at $29,000. 93.93% of the stock is owned by institutional investors and hedge funds.

About Flowserve

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.