Royal Bank of Canada Issues Pessimistic Forecast for Flowserve (NYSE:FLS) Stock Price

Flowserve (NYSE:FLS) had its target price reduced by Royal Bank of Canada from $69.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 22.79% from the stock’s current price.

A number of other equities analysts have also recently commented on FLS. Citigroup dropped their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Robert W. Baird raised their target price on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $55.38 on Thursday. Flowserve has a 52 week low of $41.60 and a 52 week high of $65.08. The stock has a market capitalization of $7.28 billion, a P/E ratio of 25.88, a PEG ratio of 1.21 and a beta of 1.42. The firm has a fifty day simple moving average of $60.57 and a two-hundred day simple moving average of $55.78. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, analysts expect that Flowserve will post 3.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flowserve

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLS. True Wealth Design LLC bought a new stake in Flowserve during the 3rd quarter valued at about $25,000. Headlands Technologies LLC lifted its holdings in Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after buying an additional 479 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Flowserve during the 3rd quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve in the 3rd quarter valued at about $29,000. Finally, Allworth Financial LP raised its holdings in shares of Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 403 shares in the last quarter. 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.