Flowserve (NYSE:FLS - Get Free Report) had its price objective upped by stock analysts at The Goldman Sachs Group from $46.00 to $52.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a "sell" rating on the industrial products company's stock. The Goldman Sachs Group's price objective would indicate a potential downside of 3.56% from the company's previous close.
A number of other equities analysts have also recently issued reports on the company. Robert W. Baird raised their target price on Flowserve from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Stifel Nicolaus raised their target price on Flowserve from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. TD Cowen raised their target price on Flowserve from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Bank of America restated a "buy" rating and set a $60.00 target price on shares of Flowserve in a report on Tuesday, September 24th. Finally, Royal Bank of Canada raised their target price on Flowserve from $50.00 to $52.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.33.
Check Out Our Latest Report on FLS
FLS stock traded down $0.30 during midday trading on Thursday, reaching $53.92. The stock had a trading volume of 104,090 shares, compared to its average volume of 1,071,365. The business has a fifty day simple moving average of $48.48 and a two-hundred day simple moving average of $48.21. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.16 and a beta of 1.39. Flowserve has a twelve month low of $35.31 and a twelve month high of $54.61.
Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company's revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. As a group, research analysts expect that Flowserve will post 2.76 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Flowserve by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company's stock worth $552,573,000 after acquiring an additional 144,704 shares during the last quarter. AQR Capital Management LLC boosted its position in Flowserve by 31.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company's stock worth $132,221,000 after acquiring an additional 663,631 shares during the last quarter. Earnest Partners LLC boosted its position in Flowserve by 4.8% during the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company's stock worth $128,841,000 after acquiring an additional 121,873 shares during the last quarter. Millennium Management LLC boosted its position in Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company's stock worth $126,259,000 after acquiring an additional 1,596,429 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Flowserve by 3.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company's stock worth $123,112,000 after acquiring an additional 83,868 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.
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.
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