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.
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.
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
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