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

Flowserve (NYSE:FLS) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm currently has a $71.00 price target on the industrial products company’s stock. Robert W. Baird’s target price points to a potential upside of 42.28% from the company’s previous close.

A number of other equities research analysts also recently weighed in on FLS. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus lifted their price target on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada dropped their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Trading Down 0.9 %

Shares of NYSE:FLS opened at $49.90 on Monday. Flowserve has a 12-month low of $43.66 and a 12-month high of $65.08. The stock has a market cap of $6.57 billion, a PE ratio of 23.32, a P/E/G ratio of 1.35 and a beta of 1.43. The business has a 50 day moving average of $58.00 and a 200-day moving average of $56.31. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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 for the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities research analysts forecast that Flowserve will post 3.18 earnings per share for the current year.

Institutional Trading of Flowserve

A number of hedge funds and other institutional investors have recently modified their holdings of FLS. Victory Capital Management Inc. grew its stake in shares of Flowserve by 46.6% during the third quarter. Victory Capital Management Inc. now owns 184,864 shares of the industrial products company’s stock worth $9,556,000 after buying an additional 58,769 shares during the last quarter. KBC Group NV grew its stake in shares of Flowserve by 17.9% during the third quarter. KBC Group NV now owns 3,432 shares of the industrial products company’s stock worth $177,000 after buying an additional 522 shares during the last quarter. Prospera Financial Services Inc grew its stake in shares of Flowserve by 4.7% during the third quarter. Prospera Financial Services Inc now owns 29,311 shares of the industrial products company’s stock worth $1,515,000 after buying an additional 1,314 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Flowserve by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after buying an additional 277 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after buying an additional 422,141 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.