Flowserve (NYSE:FLS) Price Target Cut to $68.00 by Analysts at Royal Bank of Canada

Flowserve (NYSE:FLS) had its price target lowered by Royal Bank of Canada from $69.00 to $68.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 22.79% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Bank of America lifted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Robert W. Baird lifted their price objective on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, TD Cowen boosted their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Trading Down 3.6 %

NYSE:FLS opened at $55.38 on Thursday. Flowserve has a one year low of $41.60 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The firm has a market cap of $7.28 billion, a P/E ratio of 25.88, a P/E/G ratio of 1.21 and a beta of 1.42. The firm has a 50-day simple moving average of $60.57 and a 200-day simple moving average of $55.78.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Equities analysts anticipate that Flowserve will post 3.18 EPS for the current fiscal year.

Institutional Trading of Flowserve

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its stake in Flowserve by 1,577.1% during the 4th quarter. Sunbelt Securities Inc. now owns 1,392 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 1,309 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in Flowserve during the 4th quarter valued at approximately $208,000. PharVision Advisers LLC acquired a new stake in Flowserve during the 4th quarter valued at approximately $207,000. Delta Investment Management LLC lifted its stake in Flowserve by 10.0% during the 4th quarter. Delta Investment Management LLC now owns 7,420 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 676 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Flowserve by 62.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 599,483 shares of the industrial products company’s stock valued at $34,482,000 after acquiring an additional 231,397 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

About Flowserve

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.