Flowserve Corporation (FLS) Rating Reiterated by Boenning Scattergood

Flowserve Corporation (NYSE:FLS)‘s stock had its “hold” rating restated by equities researchers at Boenning Scattergood in a report released on Thursday, November 2nd.

Other research analysts have also issued reports about the stock. Susquehanna Bancshares Inc upgraded shares of Flowserve Corporation from a “neutral” rating to a “positive” rating and dropped their price objective for the company from $50.00 to $46.00 in a research note on Tuesday, August 15th. BMO Capital Markets restated an “outperform” rating and issued a $47.00 price objective (down from $56.00) on shares of Flowserve Corporation in a research note on Friday, July 28th. Cowen and Company restated a “buy” rating and issued a $50.00 price objective on shares of Flowserve Corporation in a research note on Thursday, August 10th. Zacks Investment Research lowered shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $44.27.

Shares of Flowserve Corporation (NYSE:FLS) opened at $38.99 on Thursday. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 2.12. The company has a market cap of $5,086.93, a price-to-earnings ratio of 24.96, a P/E/G ratio of 3.15 and a beta of 1.55.

Flowserve Corporation (NYSE:FLS) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.09%. The firm had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. During the same period last year, the business earned $0.52 EPS. Flowserve Corporation’s revenue for the quarter was down 6.6% compared to the same quarter last year. analysts predict that Flowserve Corporation will post 1.38 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Gateway Investment Advisers LLC lifted its holdings in shares of Flowserve Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 30 shares in the last quarter. CIBC Asset Management Inc lifted its holdings 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 valued at $621,000 after purchasing an additional 46 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Flowserve Corporation by 1.8% in the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 46 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in shares of Flowserve Corporation by 1.0% in the second quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 89 shares in the last quarter. Finally, Cullinan Associates Inc. lifted its holdings in shares of Flowserve Corporation by 0.5% in the second quarter. Cullinan Associates Inc. now owns 22,050 shares of the industrial products company’s stock valued at $1,024,000 after purchasing an additional 100 shares in the last quarter. 99.39% of the stock is currently owned by institutional investors.

Flowserve Corporation Company Profile

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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