Flowserve (FLS) Price Target Raised to $48.00 at DA Davidson
Flowserve (NYSE:FLS) had its target price raised by DA Davidson to $48.00 in a research note released on Friday, The Fly reports. They currently have a neutral rating on the industrial products company’s stock.
FLS has been the subject of a number of other research reports. Royal Bank of Canada reiterated a hold rating and issued a $40.00 price target on shares of Flowserve in a report on Friday, July 13th. Morgan Stanley initiated coverage on Flowserve in a report on Monday, August 20th. They issued an equal weight rating and a $50.00 price target for the company. Zacks Investment Research upgraded Flowserve from a sell rating to a hold rating in a report on Monday, August 13th. Credit Suisse Group initiated coverage on Flowserve in a report on Friday, October 12th. They issued a neutral rating and a $55.00 price target for the company. Finally, Vertical Research lowered Flowserve from a hold rating to a sell rating and set a $44.00 price target for the company. in a report on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $49.71.
Shares of NYSE FLS traded down $2.78 during trading hours on Friday, reaching $50.22. The stock had a trading volume of 2,526,509 shares, compared to its average volume of 1,303,105. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.61 and a current ratio of 2.25. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 1.68 and a beta of 1.55. Flowserve has a 52-week low of $38.46 and a 52-week high of $56.86.
A number of institutional investors have recently bought and sold shares of FLS. Girard Partners LTD. purchased a new stake in Flowserve during the third quarter worth $101,000. Zurich Insurance Group Ltd FI purchased a new stake in Flowserve during the second quarter worth $131,000. Point72 Hong Kong Ltd purchased a new stake in Flowserve during the second quarter worth $163,000. Tower Research Capital LLC TRC purchased a new stake in Flowserve during the second quarter worth $174,000. Finally, D.A. Davidson & CO. purchased a new stake in Flowserve during the second quarter worth $216,000.
Flowserve Company Profile
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).
Further Reading: Price to Earnings Ratio (PE) Basics
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