Flowserve (NYSE:FLS) Coverage Initiated at Jefferies Financial Group

Investment analysts at Jefferies Financial Group began coverage on shares of Flowserve (NYSE:FLS) in a report released on Friday, StockNewsAPI reports. The firm set a “buy” rating and a $65.00 price target on the industrial products company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 18.63% from the stock’s previous close.

Several other brokerages also recently weighed in on FLS. Robert W. Baird raised their price target on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus lifted their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen increased their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group upped their price objective on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.50.

Flowserve Trading Down 0.2 %

FLS opened at $54.79 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. Flowserve has a 52 week low of $35.31 and a 52 week high of $55.90. The stock has a market cap of $7.21 billion, a PE ratio of 30.95, a PEG ratio of 1.27 and a beta of 1.39. The business has a 50 day moving average of $49.53 and a 200-day moving average of $48.57.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. Equities research analysts predict that Flowserve will post 2.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Flowserve during the 3rd quarter valued at about $27,000. nVerses Capital LLC grew its position in Flowserve by 1,142.9% during the third quarter. nVerses Capital LLC now owns 8,700 shares of the industrial products company’s stock valued at $450,000 after buying an additional 8,000 shares during the period. Vontobel Holding Ltd. increased its holdings in Flowserve by 2.3% during the third quarter. Vontobel Holding Ltd. now owns 29,245 shares of the industrial products company’s stock valued at $1,512,000 after buying an additional 649 shares during the last quarter. Michael S. Ryan Inc. bought a new position in Flowserve in the third quarter worth approximately $413,000. Finally, Creative Planning boosted its stake in shares of Flowserve by 6.9% during the 3rd quarter. Creative Planning now owns 6,879 shares of the industrial products company’s stock worth $356,000 after acquiring an additional 444 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.