Flowserve Corporation (NYSE:FLS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Flowserve’s key strengths include leading position in the flow control industry, strong aftermarket business comprehensive product portfolio and wide global footprint. Also, the company’s strong aftermarket business is expected to act as a major growth catalyst. Moreover, the diligent restructuring plans are resulting in substantial cost savings, thus adding to Flowserve’s strength. In addition, increased project bidding activities in the energy markets signal brighter days, going forward. However, on the flip side, pricing pressure has proved to be a major drag on the company’s top-line performance over the past few quarters. Also, loss of sales leverage and related under-absorption are pressurizing the financials. The company’s shares have witnessed a negative return, comparing unfavorably to the Zacks categorized Machinery-General industry's average gain over the past six months.”

Several other equities analysts also recently weighed in on FLS. BMO Capital Markets upgraded shares of Flowserve Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the company from $46.00 to $53.00 in a report on Monday, March 27th. Jefferies Group LLC restated a “buy” rating and set a $90.00 target price on shares of Flowserve Corporation in a report on Tuesday, March 28th. Royal Bank Of Canada restated a “sell” rating and set a $42.00 target price on shares of Flowserve Corporation in a report on Tuesday, April 11th. Cowen and Company upgraded shares of Flowserve Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the company from $41.00 to $55.00 in a report on Wednesday, April 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price target (up from $53.00) on shares of Flowserve Corporation in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $50.10.

Flowserve Corporation (NYSE FLS) traded down 0.26% during trading on Monday, reaching $46.05. 429,057 shares of the company were exchanged. The firm has a market capitalization of $6.01 billion, a PE ratio of 49.52 and a beta of 1.48. Flowserve Corporation has a 12 month low of $39.13 and a 12 month high of $52.10. The stock has a 50 day moving average price of $47.61 and a 200 day moving average price of $48.43.

Flowserve Corporation (NYSE:FLS) last posted its earnings results on Monday, May 1st. The industrial products company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Flowserve Corporation had a net margin of 3.12% and a return on equity of 15.76%. The firm had revenue of $863.63 million during the quarter, compared to the consensus estimate of $817.56 million. During the same period last year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts expect that Flowserve Corporation will post $1.78 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Flowserve Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 12,570,744 shares of the industrial products company’s stock valued at $608,675,000 after buying an additional 449,389 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Flowserve Corporation by 4.5% in the first quarter. First Eagle Investment Management LLC now owns 12,543,436 shares of the industrial products company’s stock valued at $607,353,000 after buying an additional 534,815 shares in the last quarter. BlackRock Inc. boosted its stake in Flowserve Corporation by 3,165.9% in the first quarter. BlackRock Inc. now owns 7,972,755 shares of the industrial products company’s stock valued at $386,041,000 after buying an additional 7,728,637 shares in the last quarter. State Street Corp boosted its stake in Flowserve Corporation by 0.8% in the first quarter. State Street Corp now owns 5,428,959 shares of the industrial products company’s stock valued at $262,883,000 after buying an additional 43,543 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Flowserve Corporation by 33.9% in the first quarter. Wells Fargo & Company MN now owns 1,914,308 shares of the industrial products company’s stock valued at $92,691,000 after buying an additional 485,008 shares in the last quarter.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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