Flowserve (NYSE:FLS) Stock Rating Lowered by StockNews.com

Flowserve (NYSE:FLS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada reduced their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday. Robert W. Baird raised their price target on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America lifted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Citigroup lowered their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Price Performance

NYSE FLS opened at $55.38 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.21 and a beta of 1.42. The business has a 50 day simple moving average of $60.57 and a 200 day simple moving average of $55.78. Flowserve has a 52-week low of $41.60 and a 52-week high of $65.08.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Analysts anticipate that Flowserve will post 3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Institutional investors have recently bought and sold shares of the business. FIL Ltd boosted its stake in shares of Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock worth $302,271,000 after acquiring an additional 2,193,904 shares during the period. Norges Bank bought a new position in Flowserve during the fourth quarter worth $94,629,000. Driehaus Capital Management LLC increased its holdings in shares of Flowserve by 307.1% in the fourth quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company’s stock valued at $108,651,000 after purchasing an additional 1,424,948 shares during the last quarter. Invesco Ltd. raised its position in shares of Flowserve by 52.7% in the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company’s stock valued at $118,953,000 after purchasing an additional 714,063 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Flowserve by 197.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after buying an additional 606,416 shares during the last quarter. Institutional investors and hedge funds 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.