Flowserve (NYSE:FLS)‘s stock had its “neutral” rating reiterated by equities research analysts at Credit Suisse Group in a report released on Thursday, January 3rd, The Fly reports. They presently have a $42.00 target price on the industrial products company’s stock, down from their prior target price of $48.00. Credit Suisse Group’s price objective would suggest a potential upside of 1.08% from the company’s current price.
A number of other analysts have also recently weighed in on FLS. Northcoast Research upgraded Flowserve from a “neutral” rating to a “buy” rating in a research report on Thursday, September 13th. Morgan Stanley lowered Flowserve from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, December 18th. Vertical Research raised Flowserve from a “sell” rating to a “hold” rating and set a $43.00 price objective for the company in a research note on Friday, December 14th. ValuEngine lowered Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, December 13th. Finally, Royal Bank of Canada raised their target price on Flowserve to $50.00 and gave the stock an “average” rating in a research report on Friday, November 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. Flowserve currently has a consensus rating of “Hold” and an average price target of $49.92.
Shares of NYSE FLS opened at $41.55 on Thursday. Flowserve has a 1-year low of $35.88 and a 1-year high of $56.86. The company has a quick ratio of 1.60, a current ratio of 2.24 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $5.34 billion, a PE ratio of 30.55, a P/E/G ratio of 0.93 and a beta of 1.63.
Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Flowserve had a positive return on equity of 11.66% and a negative net margin of 1.27%. The firm had revenue of $952.72 million during the quarter, compared to the consensus estimate of $925.33 million. During the same quarter in the prior year, the business posted $0.37 earnings per share. Flowserve’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts anticipate that Flowserve will post 1.75 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in FLS. Girard Partners LTD. acquired a new position in shares of Flowserve in the 3rd quarter worth approximately $101,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Flowserve in the 2nd quarter worth approximately $131,000. Point72 Hong Kong Ltd acquired a new position in shares of Flowserve in the 2nd quarter worth approximately $163,000. Tower Research Capital LLC TRC acquired a new position in shares of Flowserve in the 2nd quarter worth approximately $174,000. Finally, Ibex Investors LLC bought a new position in Flowserve in the 3rd quarter worth approximately $203,000.
Flowserve Company Profile
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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