Flowserve Corp (NYSE:FLS) gapped up prior to trading on Friday after Royal Bank of Canada raised their price target on the stock to $50.00. The stock had previously closed at $55.00, but opened at $53.00. Royal Bank of Canada currently has an average rating on the stock. Flowserve shares last traded at $49.25, with a volume of 122366 shares trading hands.

Several other equities research analysts have also commented on the company. Credit Suisse Group started coverage on Flowserve in a research report on Friday, October 12th. They set a “neutral” rating and a $55.00 target price on the stock. Morgan Stanley started coverage on Flowserve in a research report on Monday, August 20th. They set an “equal weight” rating and a $50.00 target price on the stock. Northcoast Research upgraded Flowserve from a “neutral” rating to a “buy” rating in a research report on Thursday, September 13th. SunTrust Banks upped their target price on Flowserve to $46.00 and gave the company a “hold” rating in a research report on Friday, August 10th. Finally, Cowen upped their target price on Flowserve from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Flowserve currently has a consensus rating of “Hold” and an average target price of $49.71.

A number of large investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board boosted its holdings in Flowserve by 1.6% in the third quarter. Canada Pension Plan Investment Board now owns 84,052 shares of the industrial products company’s stock worth $4,597,000 after acquiring an additional 1,300 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Flowserve by 10.4% in the second quarter. Russell Investments Group Ltd. now owns 13,961 shares of the industrial products company’s stock worth $561,000 after acquiring an additional 1,313 shares in the last quarter. Glen Harbor Capital Management LLC boosted its holdings in Flowserve by 11.5% in the second quarter. Glen Harbor Capital Management LLC now owns 13,580 shares of the industrial products company’s stock worth $549,000 after acquiring an additional 1,400 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Flowserve by 9.1% in the second quarter. PNC Financial Services Group Inc. now owns 19,377 shares of the industrial products company’s stock worth $783,000 after acquiring an additional 1,614 shares in the last quarter. Finally, Girard Partners LTD. bought a new position in Flowserve in the third quarter worth approximately $101,000.

The firm has a market capitalization of $6.43 billion, a PE ratio of 36.93, a P/E/G ratio of 1.68 and a beta of 1.55. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.25 and a quick ratio of 1.61.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. The business had revenue of $952.72 million for the quarter, compared to analyst estimates of $925.33 million. Flowserve had a positive return on equity of 11.59% and a negative net margin of 1.27%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 earnings per share. Equities analysts expect that Flowserve Corp will post 1.71 earnings per share for the current fiscal year.

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Flowserve Company Profile (NYSE:FLS)

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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