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

Flowserve (NYSE:FLS) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

FLS has been the subject of a number of other reports. Stifel Nicolaus boosted their price objective on Flowserve from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Mizuho boosted their price objective on Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Royal Bank of Canada boosted their price objective on Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. Citigroup boosted their price objective on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Robert W. Baird upped their target price on Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.25.

Flowserve Stock Up 0.9 %

Shares of NYSE:FLS opened at $46.76 on Friday. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 1.33 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. The business’s 50-day moving average is $44.96 and its 200-day moving average is $41.30. Flowserve has a 1 year low of $32.37 and a 1 year high of $48.31.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts predict that Flowserve will post 2.55 earnings per share for the current year.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently made changes to their positions in the stock. YHB Investment Advisors Inc. purchased a new stake in shares of Flowserve in the first quarter worth $36,000. Peregrine Capital Management LLC raised its position in shares of Flowserve by 14.1% in the first quarter. Peregrine Capital Management LLC now owns 166,893 shares of the industrial products company’s stock worth $7,624,000 after buying an additional 20,574 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Flowserve by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the industrial products company’s stock worth $1,727,000 after buying an additional 900 shares in the last quarter. Raymond James & Associates raised its position in shares of Flowserve by 0.7% in the first quarter. Raymond James & Associates now owns 438,756 shares of the industrial products company’s stock worth $20,042,000 after buying an additional 3,179 shares in the last quarter. Finally, RBA Wealth Management LLC purchased a new stake in shares of Flowserve in the first quarter worth $3,112,000. Hedge funds and other institutional investors 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.