Flowserve (NYSE:FLS) had its price target raised by research analysts at DA Davidson to $48.00 in a research report issued on Friday, The Fly reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s target price points to a potential downside of 4.42% from the company’s current price.
A number of other equities research analysts have also recently issued reports on the stock. Vertical Research cut shares of Flowserve from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a report on Thursday, October 18th. Credit Suisse Group began coverage on shares of Flowserve in a report on Friday, October 12th. They issued a “neutral” rating and a $55.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Flowserve from $47.00 to $52.00 and gave the company a “hold” rating in a report on Monday, October 8th. Northcoast Research raised shares of Flowserve from a “neutral” rating to a “buy” rating in a report on Thursday, September 13th. Finally, Zacks Investment Research raised shares of Flowserve from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, September 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Flowserve currently has a consensus rating of “Hold” and a consensus target price of $49.71.
Shares of FLS stock opened at $50.22 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.61 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $6.94 billion, a PE ratio of 35.81, a PEG ratio of 1.80 and a beta of 1.55. Flowserve has a 52-week low of $38.46 and a 52-week high of $56.86.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Girard Partners LTD. acquired a new position in Flowserve in the 3rd quarter valued at about $101,000. Zurich Insurance Group Ltd FI acquired a new position in Flowserve in the 2nd quarter valued at about $131,000. Point72 Hong Kong Ltd acquired a new position in Flowserve in the 2nd quarter valued at about $163,000. Tower Research Capital LLC TRC acquired a new position in Flowserve in the 2nd quarter valued at about $174,000. Finally, D.A. Davidson & CO. acquired a new position in Flowserve in the 2nd quarter valued at about $216,000.
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).
See Also: Trading Strategy Examples and Plans
Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.