Citigroup Cuts Flowserve (NYSE:FLS) Price Target to $56.00

Flowserve (NYSE:FLS) had its target price lowered by equities researchers at Citigroup from $72.00 to $56.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target would suggest a potential upside of 31.89% from the stock’s previous close.

Several other equities research analysts have also weighed in on FLS. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. 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. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price on the stock in a report on Monday, March 17th. Finally, Stifel Nicolaus lowered their target price on Flowserve from $77.00 to $50.00 and set a “buy” rating for the company in a research note on Monday. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.30.

Flowserve Stock Performance

Flowserve stock traded up $0.18 on Monday, hitting $42.46. The company’s stock had a trading volume of 1,708,490 shares, compared to its average volume of 1,243,031. The company has a fifty day moving average price of $51.93 and a 200-day moving average price of $56.08. The firm has a market cap of $5.59 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. Flowserve has a one year low of $37.34 and a one year high of $65.08. 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 announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, equities analysts anticipate that Flowserve will post 3.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Headlands Technologies LLC lifted its stake in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after buying an additional 479 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Flowserve during the third quarter valued at approximately $29,000. Park Square Financial Group LLC bought a new stake in Flowserve in the fourth quarter valued at approximately $33,000. Colonial Trust Co SC boosted its position in shares of Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 478 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after buying an additional 278 shares in the last quarter. Institutional investors and hedge funds 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.