Flowserve (FLS) Upgraded to Buy at ValuEngine

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Flowserve (NYSE:FLS) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, ValuEngine reports.

A number of other brokerages have also commented on FLS. TheStreet raised Flowserve from a “c” rating to a “b-” rating in a research note on Wednesday, February 27th. Zacks Investment Research raised Flowserve from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, January 15th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $42.00 price target (down from $48.00) on shares of Flowserve in a research note on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $48.85.

NYSE:FLS traded up $4.17 during trading hours on Wednesday, hitting $51.73. The company’s stock had a trading volume of 88,480 shares, compared to its average volume of 987,565. The firm has a market capitalization of $6.43 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 1.47 and a beta of 1.66. The company has a quick ratio of 1.62, a current ratio of 2.20 and a debt-to-equity ratio of 0.85. Flowserve has a twelve month low of $35.88 and a twelve month high of $56.86.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $890.05 million for the quarter, compared to analyst estimates of $943.79 million. Flowserve had a return on equity of 12.33% and a net margin of 3.12%. Flowserve’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. On average, analysts anticipate that Flowserve will post 2.14 EPS for the current fiscal year.

In related news, insider John Lenander sold 6,818 shares of Flowserve stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $44.75, for a total value of $305,105.50. Following the transaction, the insider now directly owns 22,130 shares of the company’s stock, valued at $990,317.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Gabelli Funds LLC boosted its position in shares of Flowserve by 1.9% during the first quarter. Gabelli Funds LLC now owns 1,705,200 shares of the industrial products company’s stock valued at $76,973,000 after buying an additional 32,500 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Flowserve by 33.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 106,155 shares of the industrial products company’s stock valued at $4,791,000 after buying an additional 26,891 shares during the last quarter. Monarch Capital Management Inc. boosted its position in shares of Flowserve by 1.3% during the first quarter. Monarch Capital Management Inc. now owns 80,620 shares of the industrial products company’s stock valued at $3,639,000 after buying an additional 1,055 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its position in shares of Flowserve by 1.2% during the first quarter. Eagle Boston Investment Management Inc. now owns 25,474 shares of the industrial products company’s stock valued at $1,149,000 after buying an additional 310 shares during the last quarter. Finally, Pendal Group Ltd boosted its position in shares of Flowserve by 5.2% during the first quarter. Pendal Group Ltd now owns 13,452 shares of the industrial products company’s stock valued at $607,000 after buying an additional 662 shares during the last quarter.

About Flowserve

Flowserve Corporation designs, develops, 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).

Further Reading: Oversold

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Flowserve (NYSE:FLS)

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