Flowserve (FLS) PT Raised to $48.00 at DA Davidson

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.

Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.07. The company had revenue of $952.72 million for the quarter, compared to analysts’ expectations of $925.33 million. Flowserve had a negative net margin of 1.27% and a positive return on equity of 11.66%. Flowserve’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. As a group, equities analysts forecast that Flowserve will post 1.72 earnings per share for the current year.

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.

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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