Flowserve Co. (NYSE:FLS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Flowserve Co. (NYSE:FLS) have received an average rating of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $61.30.

A number of brokerages have recently weighed in on FLS. Mizuho upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group started coverage on Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price on the stock. TD Cowen boosted their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America boosted their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Flowserve during the 2nd quarter worth $37,100,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Flowserve by 5,256.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock worth $29,452,000 after buying an additional 600,866 shares during the period. Interval Partners LP grew its position in shares of Flowserve by 60.1% in the 2nd quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock valued at $44,593,000 after buying an additional 348,107 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Flowserve by 58.3% in the second quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company’s stock valued at $1,962,000 after buying an additional 15,029 shares during the period. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.0 %

Shares of NYSE:FLS opened at $60.71 on Friday. The company has a market capitalization of $7.98 billion, a P/E ratio of 30.05, a P/E/G ratio of 1.49 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The business’s 50 day simple moving average is $54.98 and its 200 day simple moving average is $50.54. Flowserve has a 1 year low of $37.34 and a 1 year high of $62.22.

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

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.