Flowserve (NYSE:FLS) Stock Rating Upgraded by Baird R W

Flowserve (NYSE:FLS) was upgraded by stock analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on FLS. Mizuho lifted their price objective on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Robert W. Baird raised Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective for the company in a research note on Monday. TD Cowen lifted their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada dropped their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Price Performance

Shares of NYSE FLS opened at $49.90 on Monday. The stock has a market cap of $6.57 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. Flowserve has a fifty-two week low of $43.66 and a fifty-two week 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 stock has a fifty day moving average of $58.00 and a 200-day moving average of $56.31.

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

Institutional Investors Weigh In On Flowserve

Several hedge funds have recently added to or reduced their stakes in FLS. Headlands Technologies LLC lifted its stake in shares of Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 479 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Flowserve in the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve in the 3rd quarter valued at about $29,000. Park Square Financial Group LLC bought a new stake in shares of Flowserve in the 4th quarter valued at about $33,000. Finally, Colonial Trust Co SC lifted its stake in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 478 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

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.