Flowserve (FLS) Cut to Hold at Stifel Nicolaus
Stifel Nicolaus lowered shares of Flowserve (NYSE:FLS) from a buy rating to a hold rating in a research report released on Monday, Marketbeat reports. They currently have $43.00 price target on the industrial products company’s stock.
FLS has been the subject of a number of other reports. Boenning Scattergood reiterated a hold rating on shares of Flowserve in a research note on Thursday, November 2nd. Robert W. Baird reiterated a hold rating and set a $43.00 target price on shares of Flowserve in a research note on Wednesday, October 4th. BMO Capital Markets lowered shares of Flowserve from an outperform rating to a market perform rating and decreased their target price for the company from $51.00 to $41.00 in a research note on Friday, November 3rd. Citigroup reiterated a neutral rating and set a $48.00 target price (up from $46.00) on shares of Flowserve in a research note on Monday, October 9th. Finally, Royal Bank of Canada reiterated an underperform rating and set a $36.00 target price (down from $38.00) on shares of Flowserve in a research note on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $43.17.
Flowserve (NYSE FLS) opened at $41.02 on Monday. The firm has a market cap of $5,390.00, a P/E ratio of 26.45, a P/E/G ratio of 3.34 and a beta of 1.53. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30. Flowserve has a 1-year low of $37.51 and a 1-year high of $52.10.
Flowserve (NYSE:FLS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $883.38 million during the quarter, compared to analyst estimates of $871.20 million. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. analysts anticipate that Flowserve will post 1.38 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC boosted its holdings in Flowserve by 2.2% in the 3rd quarter. First Eagle Investment Management LLC now owns 13,059,375 shares of the industrial products company’s stock worth $556,199,000 after buying an additional 276,377 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Flowserve by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 12,843,068 shares of the industrial products company’s stock valued at $596,303,000 after purchasing an additional 272,324 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Flowserve by 2.8% during the 2nd quarter. BlackRock Inc. now owns 8,194,771 shares of the industrial products company’s stock valued at $380,483,000 after purchasing an additional 222,016 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Flowserve by 22.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock valued at $292,855,000 after purchasing an additional 1,146,084 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Flowserve by 9.2% during the 3rd quarter. Gamco Investors INC. ET AL now owns 2,816,277 shares of the industrial products company’s stock valued at $119,945,000 after purchasing an additional 236,752 shares during the last quarter.
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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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