Flowserve Corporation (FLS) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of Flowserve Corporation (NYSE:FLS) in a report released on Tuesday, October 17th. Stifel Nicolaus currently has a $49.00 target price on the industrial products company’s stock.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets reissued a buy rating and issued a $56.00 price objective on shares of Flowserve Corporation in a research report on Tuesday, June 27th. Jefferies Group LLC restated a buy rating and issued a $50.00 target price on shares of Flowserve Corporation in a report on Friday, July 14th. Cowen and Company restated a buy rating and issued a $55.00 target price on shares of Flowserve Corporation in a report on Friday, July 28th. Boenning Scattergood reiterated a hold rating on shares of Flowserve Corporation in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Flowserve Corporation from a sell rating to a hold rating in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Flowserve Corporation currently has an average rating of Hold and a consensus target price of $44.27.

Shares of Flowserve Corporation (FLS) traded up $0.31 on Tuesday, reaching $39.56. 695,000 shares of the company’s stock were exchanged, compared to its average volume of 1,690,235. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30. The company has a market cap of $5,127.42, a price-to-earnings ratio of 25.16, a PEG ratio of 3.21 and a beta of 1.55.

Flowserve Corporation (NYSE:FLS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The company had revenue of $883.38 million during the quarter, compared to analysts’ expectations of $871.20 million. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.09%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. sell-side analysts forecast that Flowserve Corporation will post 1.36 EPS for the current year.

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Large investors have recently bought and sold shares of the company. Gateway Investment Advisers LLC lifted its stake in Flowserve Corporation by 0.3% during the second quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock valued at $491,000 after buying an additional 30 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of 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 purchasing an additional 46 shares in the last quarter. Federated Investors Inc. PA raised its position in Flowserve Corporation by 1.8% during the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 46 shares in the last quarter. Stifel Financial Corp raised its position in Flowserve Corporation by 0.5% during the first quarter. Stifel Financial Corp now owns 15,924 shares of the industrial products company’s stock valued at $770,000 after acquiring an additional 83 shares in the last quarter. Finally, Sentry Investment Management LLC raised its position in Flowserve Corporation by 1.0% during the second quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 89 shares in the last quarter.

About Flowserve Corporation

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.

Analyst Recommendations for Flowserve Corporation (NYSE:FLS)

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