Flowserve (NYSE:FLS) had its target price upped by equities researchers at Morgan Stanley from $50.00 to $51.00 in a research report issued on Tuesday. The brokerage currently has a “hold” rating on the industrial products company’s stock. Morgan Stanley’s target price would suggest a potential upside of 6.76% from the company’s previous close.

Several other analysts also recently issued reports on FLS. Stifel Nicolaus increased their price objective on shares of Flowserve from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, October 8th. Zacks Investment Research raised shares of Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, September 11th. Northcoast Research raised shares of Flowserve from a “neutral” rating to a “buy” rating in a research report on Thursday, September 13th. DA Davidson increased their price objective on shares of Flowserve to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 9th. Finally, Vertical Research downgraded shares of Flowserve from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research 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 assigned a buy rating to the company. Flowserve has an average rating of “Hold” and a consensus price target of $50.00.

NYSE FLS opened at $47.77 on Tuesday. Flowserve has a one year low of $38.46 and a one year high of $56.86. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.60 and a current ratio of 2.24. The company has a market capitalization of $6.45 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.55.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.07. Flowserve had a negative net margin of 1.27% and a positive return on equity of 11.66%. The firm had revenue of $952.72 million for the quarter, compared to analyst estimates of $925.33 million. During the same quarter last year, the firm posted $0.37 earnings per share. Flowserve’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that Flowserve will post 1.72 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its position in shares of Flowserve by 1.6% during the third quarter. Canada Pension Plan Investment Board now owns 84,052 shares of the industrial products company’s stock worth $4,597,000 after buying an additional 1,300 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Flowserve by 10.4% during the second quarter. Russell Investments Group Ltd. now owns 13,961 shares of the industrial products company’s stock worth $561,000 after buying an additional 1,313 shares in the last quarter. Glen Harbor Capital Management LLC grew its position in shares of Flowserve by 11.5% during the second quarter. Glen Harbor Capital Management LLC now owns 13,580 shares of the industrial products company’s stock worth $549,000 after buying an additional 1,400 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Flowserve by 9.1% during the second quarter. PNC Financial Services Group Inc. now owns 19,377 shares of the industrial products company’s stock worth $783,000 after buying an additional 1,614 shares in the last quarter. Finally, Girard Partners LTD. acquired a new stake in shares of Flowserve during the third quarter worth approximately $101,000.

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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