Flowserve (FLS) Given Neutral Rating at Seaport Global Securities

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Seaport Global Securities reiterated their neutral rating on shares of Flowserve (NYSE:FLS) in a research note issued to investors on Thursday.

A number of other equities analysts have also recently weighed in on FLS. Royal Bank of Canada reiterated a hold rating and set a $40.00 price target on shares of Flowserve in a report on Friday, July 13th. Zacks Investment Research cut Flowserve from a hold rating to a sell rating in a report on Monday, July 16th. Robert W. Baird reiterated a hold rating and set a $47.00 price target on shares of Flowserve in a report on Friday, July 20th. ValuEngine upgraded Flowserve from a hold rating to a buy rating in a report on Wednesday, August 8th. Finally, Oppenheimer reiterated a hold rating on shares of Flowserve in a report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Flowserve has a consensus rating of Hold and an average price target of $49.71.

NYSE:FLS traded down $2.78 during trading hours on Thursday, hitting $50.22. The company had a trading volume of 2,526,509 shares, compared to its average volume of 1,303,105. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89. The stock has a market cap of $6.43 billion, a P/E ratio of 36.93, a PEG ratio of 1.68 and a beta of 1.55. Flowserve has a 1 year low of $38.46 and a 1 year high of $56.86.

Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.07. The company had revenue of $952.72 million during the quarter, compared to analysts’ expectations of $925.33 million. Flowserve had a positive return on equity of 11.59% and a negative net margin of 1.27%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. On average, equities analysts anticipate that Flowserve will post 1.71 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its holdings in Flowserve by 1.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 84,052 shares of the industrial products company’s stock valued at $4,597,000 after acquiring an additional 1,300 shares during the period. Trexquant Investment LP raised its position in Flowserve by 472.2% in the 3rd quarter. Trexquant Investment LP now owns 31,032 shares of the industrial products company’s stock valued at $1,697,000 after purchasing an additional 25,609 shares in the last quarter. American International Group Inc. raised its position in Flowserve by 6.3% in the 3rd quarter. American International Group Inc. now owns 51,405 shares of the industrial products company’s stock valued at $2,811,000 after purchasing an additional 3,028 shares in the last quarter. Girard Partners LTD. acquired a new stake in Flowserve in the 3rd quarter valued at about $101,000. Finally, Janus Henderson Group PLC raised its position in Flowserve by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 41,743 shares of the industrial products company’s stock valued at $2,283,000 after purchasing an additional 1,953 shares in the last quarter.

About Flowserve

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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