Flowserve (NYSE:FLS) Price Target Lowered to $72.00 at Citigroup

Flowserve (NYSE:FLS) had its target price decreased by investment analysts at Citigroup from $73.00 to $72.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would indicate a potential upside of 22.59% from the stock’s current price.

A number of other research firms have also recently weighed in on FLS. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Bank of America raised their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $64.30.

Flowserve Stock Up 0.8 %

FLS stock traded up $0.47 during trading on Monday, reaching $58.73. 210,832 shares of the company traded hands, compared to its average volume of 1,004,486. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The business has a 50 day simple moving average of $59.48 and a 200 day simple moving average of $53.07. Flowserve has a 12 month low of $39.37 and a 12 month high of $62.32.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Flowserve will post 2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Hedge funds have recently bought and sold shares of the business. Michael S. Ryan Inc. grew its position in shares of Flowserve by 4.6% in the fourth quarter. Michael S. Ryan Inc. now owns 8,351 shares of the industrial products company’s stock valued at $480,000 after purchasing an additional 370 shares during the period. Oliver Luxxe Assets LLC acquired a new stake in Flowserve in the 4th quarter worth about $2,753,000. Insight Wealth Strategies LLC increased its stake in Flowserve by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 67,744 shares of the industrial products company’s stock worth $3,897,000 after buying an additional 1,051 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Flowserve by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 290 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Flowserve by 7.8% in the third quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock valued at $3,909,000 after acquiring an additional 5,127 shares in the last quarter. Hedge funds and other 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.