Flowserve (NYSE:FLS) Upgraded by StockNews.com to “Strong-Buy”

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

FLS has been the subject of a number of other research reports. Mizuho reiterated a “buy” rating and set a $53.00 target price (up previously from $50.00) on shares of Flowserve in a research note on Wednesday. TD Cowen upped their price objective on Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada raised their target price on Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Stifel Nicolaus upped their price target on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup increased their price target on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.55.

Flowserve Price Performance

FLS stock opened at $47.52 on Friday. The business’s 50-day moving average is $45.45 and its two-hundred day moving average is $41.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.27. The firm has a market capitalization of $6.26 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.24 and a beta of 1.42. Flowserve has a 1 year low of $32.49 and a 1 year high of $49.35.

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

Institutional Trading of Flowserve

Institutional investors and hedge funds have recently bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new position in Flowserve in the fourth quarter valued at $26,000. YHB Investment Advisors Inc. purchased a new position in shares of Flowserve during the first quarter worth about $36,000. Raleigh Capital Management Inc. grew its holdings in shares of Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after buying an additional 596 shares during the last quarter. TFO Wealth Partners LLC increased its position in Flowserve by 14,663.6% in the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,613 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in Flowserve during the 1st quarter valued at approximately $87,000. Hedge funds and other 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.