Flowserve Corp (FLS) Given Average Rating of “Hold” by Brokerages

Flowserve Corp (NYSE:FLS) has received an average recommendation of “Hold” from the seventeen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $49.82.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Friday, May 17th. ValuEngine upgraded Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, TheStreet upgraded Flowserve from a “c” rating to a “b-” rating in a report on Wednesday, February 27th.

Flowserve stock traded down $1.24 during midday trading on Thursday, hitting $48.62. The company’s stock had a trading volume of 60,083 shares, compared to its average volume of 1,269,983. The company has a current ratio of 2.17, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. Flowserve has a 12 month low of $35.88 and a 12 month high of $56.86. The stock has a market cap of $6.64 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The firm had revenue of $890.05 million for the quarter, compared to analysts’ expectations of $943.79 million. During the same period in the previous year, the business earned $0.27 earnings per share. Flowserve’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities analysts predict that Flowserve will post 2.19 EPS for the current fiscal year.

In other Flowserve news, insider John Lenander sold 6,818 shares of Flowserve stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $44.75, for a total transaction of $305,105.50. Following the transaction, the insider now owns 22,130 shares of the company’s stock, valued at approximately $990,317.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. grew its stake in Flowserve by 91.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 520 shares in the last quarter. Fort L.P. purchased a new position in Flowserve during the 1st quarter valued at about $52,000. Exane Asset Management purchased a new position in Flowserve during the 4th quarter valued at about $77,000. Enlightenment Research LLC purchased a new position in Flowserve during the 4th quarter valued at about $95,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Flowserve during the 4th quarter valued at about $128,000.

About Flowserve

Flowserve Corporation designs, develops, 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).

Featured Article: What is a Fibonacci Channel?

Analyst Recommendations for Flowserve (NYSE:FLS)

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.