Flowserve (NYSE:FLS) Price Target Lowered to $91.00 at Royal Bank Of Canada

Flowserve (NYSE:FLS) had its target price decreased by research analysts at Royal Bank Of Canada from $98.00 to $91.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 28.64% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Robert W. Baird set a $98.00 price objective on shares of Flowserve in a research note on Monday, February 9th. Stifel Nicolaus set a $92.00 price objective on shares of Flowserve in a research note on Friday. Citigroup reissued a “buy” rating on shares of Flowserve in a research note on Thursday. Finally, TD Cowen reaffirmed a “buy” rating on shares of Flowserve in a report on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.70.

Flowserve Stock Down 3.9%

NYSE:FLS traded down $2.90 during trading hours on Friday, reaching $70.74. The company’s stock had a trading volume of 2,000,098 shares, compared to its average volume of 1,826,971. The company has a market capitalization of $9.04 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.88 and a beta of 1.33. Flowserve has a 12 month low of $45.11 and a 12 month high of $92.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 2.03. The stock has a 50 day moving average price of $79.96 and a two-hundred day moving average price of $74.22.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.45%. Flowserve’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Equities analysts predict that Flowserve will post 4.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Institutional investors and hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new stake in Flowserve in the third quarter valued at $3,034,000. D.A. Davidson & CO. boosted its stake in shares of Flowserve by 67.1% during the 3rd quarter. D.A. Davidson & CO. now owns 34,914 shares of the industrial products company’s stock worth $1,855,000 after acquiring an additional 14,025 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Flowserve during the 3rd quarter worth about $2,343,000. Exchange Traded Concepts LLC boosted its stake in shares of Flowserve by 19.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 128,436 shares of the industrial products company’s stock worth $8,911,000 after acquiring an additional 20,725 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Flowserve by 104.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock worth $230,281,000 after acquiring an additional 2,213,406 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

About Flowserve

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.