ValuEngine cut shares of Flowserve (NYSE:FLS) from a buy rating to a hold rating in a report published on Thursday morning.

FLS has been the topic of several other reports. Northcoast Research raised shares of Flowserve from a neutral rating to a buy rating in a research report on Thursday, September 13th. DA Davidson increased their price objective on shares of Flowserve to $48.00 and gave the company a neutral rating in a research report on Friday, November 9th. Morgan Stanley increased their price objective on shares of Flowserve from $50.00 to $51.00 and gave the company a hold rating in a research report on Tuesday, November 13th. Credit Suisse Group assumed coverage on shares of Flowserve in a research report on Friday, October 12th. They issued a neutral rating and a $55.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Flowserve to $50.00 and gave the company an average rating in a research report on Friday, November 9th. They noted that the move was a valuation call. Thirteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Flowserve currently has a consensus rating of Hold and an average price target of $50.38.

NYSE FLS opened at $41.77 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.60 and a current ratio of 2.24. Flowserve has a 1 year low of $38.79 and a 1 year high of $56.86. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 1.39 and a beta of 1.56.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.07. Flowserve had a negative net margin of 1.27% and a positive return on equity of 11.66%. The firm had revenue of $952.72 million for the quarter, compared to analyst estimates of $925.33 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Flowserve will post 1.74 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in FLS. Raymond James Financial Services Advisors Inc. grew its stake in shares of Flowserve by 7.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 29,454 shares of the industrial products company’s stock valued at $1,190,000 after acquiring an additional 2,136 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Flowserve by 5.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,374 shares of the industrial products company’s stock valued at $16,781,000 after acquiring an additional 19,818 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Flowserve by 51.6% in the second quarter. Wells Fargo & Company MN now owns 219,981 shares of the industrial products company’s stock valued at $8,887,000 after acquiring an additional 74,851 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of Flowserve in the second quarter valued at about $216,000. Finally, State of Wisconsin Investment Board grew its stake in shares of Flowserve by 7.2% in the second quarter. State of Wisconsin Investment Board now owns 108,148 shares of the industrial products company’s stock valued at $4,369,000 after acquiring an additional 7,278 shares in the last quarter.

Flowserve Company Profile

Flowserve Corporation designs, 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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Analyst Recommendations for Flowserve (NYSE:FLS)

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