Flowserve Co. (NYSE:FLS) Short Interest Update

Flowserve Co. (NYSE:FLS) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,450,000 shares, an increase of 5.8% from the November 15th total of 1,370,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the short-interest ratio is currently 1.1 days.

Analysts Set New Price Targets

FLS has been the topic of a number of research reports. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $55.00 to $69.00 in a research report on Thursday. Robert W. Baird boosted their price objective on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus boosted their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Citigroup upped their price target on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.40.

Flowserve Price Performance

Flowserve stock opened at $60.62 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The firm has a market cap of $7.96 billion, a P/E ratio of 30.01, a P/E/G ratio of 1.48 and a beta of 1.41. The business’s fifty day moving average is $57.63 and its two-hundred day moving average is $51.59. Flowserve has a 52 week low of $39.20 and a 52 week high of $62.32.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $1.13 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. Equities research analysts forecast that Flowserve will post 2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of Flowserve by 7.8% during the third quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock valued at $3,909,000 after acquiring an additional 5,127 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the third quarter valued at $29,000. Sanctuary Advisors LLC lifted its stake in shares of Flowserve by 35.9% during the third quarter. Sanctuary Advisors LLC now owns 17,686 shares of the industrial products company’s stock valued at $914,000 after acquiring an additional 4,670 shares during the period. Virtu Financial LLC acquired a new position in Flowserve in the third quarter valued at about $227,000. Finally, Toronto Dominion Bank lifted its stake in Flowserve by 4.4% in the third quarter. Toronto Dominion Bank now owns 27,900 shares of the industrial products company’s stock valued at $1,442,000 after buying 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.