Flowserve (NYSE:FLS)‘s stock had its “hold” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, December 18th, AnalystRatings.com reports. They presently have a $50.00 price objective on the industrial products company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 0.24% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. TheStreet upgraded shares of Flowserve from a “c+” rating to a “b” rating in a report on Wednesday, October 30th. Bank of America downgraded shares of Flowserve from a “neutral” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $52.00.
Flowserve stock opened at $49.88 on Wednesday. Flowserve has a 12-month low of $36.99 and a 12-month high of $54.16. The firm has a 50-day moving average price of $48.86 and a 200-day moving average price of $47.84. The firm has a market capitalization of $6.51 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.80 and a beta of 1.72. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.85.
Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Flowserve had a net margin of 6.39% and a return on equity of 16.21%. The company had revenue of $996.54 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Flowserve will post 2.19 earnings per share for the current fiscal year.
In related news, SVP Lanesha Minnix sold 820 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $47.97, for a total value of $39,335.40. Following the completion of the transaction, the senior vice president now directly owns 1,231 shares in the company, valued at approximately $59,051.07. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of FLS. Amundi Pioneer Asset Management Inc. increased its holdings in Flowserve by 3.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 129,752 shares of the industrial products company’s stock worth $5,858,000 after acquiring an additional 4,849 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Flowserve by 15.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,845 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 930 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Flowserve by 12.8% during the second quarter. Aperio Group LLC now owns 45,119 shares of the industrial products company’s stock worth $2,377,000 after buying an additional 5,135 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Flowserve by 3.4% in the 2nd quarter. Janus Henderson Group PLC now owns 516,627 shares of the industrial products company’s stock valued at $27,221,000 after acquiring an additional 16,990 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Flowserve by 20.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 17,576 shares of the industrial products company’s stock worth $936,000 after buying an additional 2,937 shares during the last quarter. 97.22% of the stock is owned by institutional investors.
Flowserve Company Profile
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).
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