Flowserve (NYSE:FLS) Rating Increased to Neutral at The Goldman Sachs Group

Flowserve (NYSE:FLS) was upgraded by equities researchers at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report released on Thursday, Marketbeat Ratings reports. The brokerage presently has a $69.00 price target on the industrial products company’s stock, up from their prior price target of $55.00. The Goldman Sachs Group’s target price would suggest a potential upside of 13.82% from the stock’s current price.

Other research analysts have also issued research reports about the company. Stifel Nicolaus lifted their target price on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Citigroup boosted their target price on shares of Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Bank of America raised their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Mizuho raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.40.

Flowserve Stock Down 0.8 %

Shares of NYSE:FLS opened at $60.62 on Thursday. The firm has a market cap of $7.96 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41. The company has a fifty day simple moving average of $57.63 and a 200 day simple moving average of $51.56. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve has a 12-month low of $39.20 and a 12-month high of $62.32.

Flowserve (NYSE:FLS) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. Flowserve’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 EPS. On average, equities research analysts anticipate that Flowserve will post 2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in shares of Flowserve by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock worth $3,909,000 after buying an additional 5,127 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the third quarter valued at approximately $29,000. Sanctuary Advisors LLC raised its holdings in Flowserve by 35.9% during the third quarter. Sanctuary Advisors LLC now owns 17,686 shares of the industrial products company’s stock worth $914,000 after purchasing an additional 4,670 shares in the last quarter. Virtu Financial LLC bought a new position in Flowserve during the 3rd quarter valued at $227,000. Finally, Toronto Dominion Bank increased its position in shares of Flowserve by 4.4% during the 3rd quarter. Toronto Dominion Bank now owns 27,900 shares of the industrial products company’s stock valued at $1,442,000 after purchasing an additional 1,175 shares during the period. 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.