Flowserve (NYSE:FLS) Downgraded by StockNews.com to “Hold”

Flowserve (NYSE:FLS) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada lowered their price target on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday. Robert W. Baird upped their target price on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup decreased their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Mizuho increased their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, TD Cowen lifted their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Price Performance

Shares of NYSE FLS traded down $1.53 during trading on Thursday, hitting $57.47. The company had a trading volume of 1,822,796 shares, compared to its average volume of 1,332,612. The company has a market cap of $7.55 billion, a P/E ratio of 26.86, a PEG ratio of 1.28 and a beta of 1.42. 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’s 50-day moving average is $60.68 and its 200 day moving average is $55.70. Flowserve has a 52 week low of $41.60 and a 52 week high of $65.08.

Flowserve (NYSE:FLS) last announced its earnings results 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 17.11% and a net margin of 6.20%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts predict that Flowserve will post 3.21 earnings per share for the current fiscal year.

Institutional Trading of Flowserve

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLS. KPP Advisory Services LLC boosted its position in Flowserve by 3.2% in the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after buying an additional 215 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after purchasing an additional 215 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after purchasing an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Flowserve by 0.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock valued at $1,527,000 after purchasing an additional 236 shares in the last quarter. Finally, Savant Capital LLC lifted its holdings in Flowserve by 0.4% during the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after buying an additional 251 shares in 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.