Flowserve (NYSE:FLS) Upgraded at 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.

FLS has been the subject of several other reports. TD Cowen raised their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective for the company in a report on Monday. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their target price for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Royal Bank of Canada lowered their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Citigroup lowered their target price 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. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Performance

Shares of FLS opened at $50.38 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve has a one year low of $43.66 and a one year high of $65.08. The company has a 50-day simple moving average of $58.19 and a two-hundred day simple moving average of $56.31. The firm has a market capitalization of $6.64 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43.

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

Institutional Investors Weigh In On Flowserve

A number of hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Flowserve by 3.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 644,094 shares of the industrial products company’s stock valued at $37,048,000 after acquiring an additional 21,393 shares during the period. Comprehensive Money Management Services LLC bought a new stake in shares of Flowserve during the 4th quarter valued at $263,000. Park Square Financial Group LLC bought a new stake in shares of Flowserve during the 4th quarter valued at $33,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Flowserve during the 4th quarter valued at $13,938,000. Finally, ABLE Financial Group LLC grew its position in shares of Flowserve by 10.6% during the 4th quarter. ABLE Financial Group LLC now owns 18,761 shares of the industrial products company’s stock valued at $1,079,000 after acquiring an additional 1,796 shares during the period. Institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

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.