Flowserve (FLS) Price Target Cut to $44.00

Flowserve (NYSE:FLS) had its price target trimmed by Stifel Nicolaus from $47.00 to $44.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a hold rating on the industrial products company’s stock.

Several other equities analysts have also commented on the company. Zacks Investment Research lowered Flowserve from a hold rating to a sell rating in a research note on Tuesday, January 2nd. Robert W. Baird reaffirmed a hold rating and issued a $45.00 price target on shares of Flowserve in a research note on Friday, December 15th. Goldman Sachs Group lowered Flowserve from a neutral rating to a sell rating and decreased their price target for the company from $42.65 to $37.00 in a research note on Thursday, December 7th. Seaport Global Securities lowered Flowserve from a buy rating to a neutral rating and decreased their price target for the company from $60.00 to $40.00 in a research note on Friday, November 3rd. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Flowserve in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $43.67.

Shares of Flowserve (NYSE:FLS) opened at $43.58 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $5,719.20, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. Flowserve has a twelve month low of $37.51 and a twelve month high of $51.92.

Flowserve (NYSE:FLS) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.02). Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. equities research analysts anticipate that Flowserve will post 1.65 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of FLS. Thrivent Financial For Lutherans lifted its stake in Flowserve by 3.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,970 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 170 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Flowserve by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 155,541 shares of the industrial products company’s stock worth $7,221,000 after acquiring an additional 7,820 shares in the last quarter. Verition Fund Management LLC lifted its stake in Flowserve by 2.5% during the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 126 shares in the last quarter. Toronto Dominion Bank lifted its stake in Flowserve by 25.3% during the 2nd quarter. Toronto Dominion Bank now owns 44,637 shares of the industrial products company’s stock worth $2,071,000 after acquiring an additional 9,006 shares in the last quarter. Finally, Shell Asset Management Co. increased its holdings in Flowserve by 505.1% during the 3rd quarter. Shell Asset Management Co. now owns 48,469 shares of the industrial products company’s stock worth $3,418,000 after purchasing an additional 40,459 shares during the period.

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Flowserve 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 (NYSE:FLS)

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