Flowserve (FLS) Price Target Raised to $44.00

Flowserve (NYSE:FLS) had its price objective lifted by research analysts at Royal Bank of Canada from $40.00 to $44.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 12.18% from the stock’s previous close.

FLS has been the subject of several other reports. Zacks Investment Research lowered Flowserve from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 18th. ValuEngine raised Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus lowered their target price on Flowserve from $44.00 to $43.00 and set a “hold” rating for the company in a report on Monday, May 14th. Robert W. Baird reaffirmed a “hold” rating and set a $47.00 target price on shares of Flowserve in a report on Friday, July 20th. Finally, SunTrust Banks upped their target price on Flowserve to $46.00 and gave the company a “hold” rating in a report on Friday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $44.70.

Flowserve traded up $1.23, hitting $50.10, during midday trading on Friday, Marketbeat Ratings reports. The stock had a trading volume of 2,294,802 shares, compared to its average volume of 1,118,377. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.89. The firm has a market cap of $6.39 billion, a P/E ratio of 36.84, a P/E/G ratio of 1.81 and a beta of 1.47. Flowserve has a 12 month low of $37.51 and a 12 month high of $51.55.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.08. The firm had revenue of $973.13 million during the quarter, compared to analyst estimates of $923.89 million. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. Flowserve’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. equities research analysts anticipate that Flowserve will post 1.65 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Cigna Investments Inc. New bought a new position in shares of Flowserve during the first quarter valued at approximately $205,000. D.A. Davidson & CO. bought a new position in shares of Flowserve during the second quarter valued at approximately $216,000. Bbva Compass Bancshares Inc. bought a new position in shares of Flowserve during the second quarter valued at approximately $220,000. 180 Wealth Advisors LLC bought a new position in shares of Flowserve during the first quarter valued at approximately $290,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Flowserve during the second quarter worth approximately $323,000.

About Flowserve

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).

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Flowserve (NYSE:FLS)

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