Flowserve (NYSE:FLS) Upgraded at StockNews.com

Flowserve (NYSE:FLS) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

Several other brokerages have also recently weighed in on FLS. Bank of America raised their price objective on Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Royal Bank of Canada raised their price objective on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Citigroup raised their price objective on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. UBS Group raised their price objective on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Robert W. Baird raised their price objective on Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and an average price target of $51.55.

Flowserve Stock Up 1.3 %

Shares of FLS opened at $48.15 on Friday. Flowserve has a 52 week low of $32.49 and a 52 week high of $49.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.25 and a beta of 1.42. The business’s fifty day moving average price is $45.56 and its two-hundred day moving average price is $41.69.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $0.40 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, analysts predict that Flowserve will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently made changes to their positions in the company. UBS Group AG boosted its holdings in shares of Flowserve by 332.7% during the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company’s stock worth $10,725,000 after acquiring an additional 207,346 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Flowserve by 4.8% during the third quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company’s stock worth $1,936,000 after acquiring an additional 2,235 shares during the period. Peregrine Capital Management LLC bought a new stake in shares of Flowserve during the fourth quarter worth approximately $6,031,000. Wakefield Asset Management LLLP bought a new stake in shares of Flowserve during the fourth quarter worth approximately $866,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Flowserve during the fourth quarter worth approximately $5,970,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

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.