Flowserve (NYSE:FLS) Upgraded to Strong-Buy at StockNews.com

Flowserve (NYSE:FLS) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Several other analysts have also recently issued reports on FLS. Jefferies Financial Group initiated coverage on shares of Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. Robert W. Baird upped their target price on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Mizuho lifted their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Citigroup upped their price objective on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus lifted their target price on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.40.

Flowserve Stock Up 1.2 %

NYSE:FLS traded up $0.70 on Thursday, reaching $58.15. The stock had a trading volume of 887,937 shares, compared to its average volume of 1,118,265. The company has a 50-day moving average of $57.96 and a 200 day moving average of $51.79. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $7.64 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41. Flowserve has a 12-month low of $39.21 and a 12-month high of $62.32.

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

Institutional Trading of Flowserve

Several hedge funds have recently bought and sold shares of FLS. True Wealth Design LLC bought a new position in Flowserve in the 3rd quarter worth about $25,000. Signaturefd LLC grew its holdings in Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after buying an additional 370 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Flowserve in the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve during the 3rd quarter valued at $29,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Flowserve during the 3rd quarter worth $29,000. 93.93% of the stock is currently owned by institutional investors.

About Flowserve

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.