Flowserve (NYSE:FLS) Stock Rating Upgraded by Royal Bank of Canada

Flowserve (NYSE:FLS) was upgraded by Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a $69.00 target price on the industrial products company’s stock, up from their previous target price of $57.00. Royal Bank of Canada’s price target would indicate a potential upside of 14.89% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Mizuho upped their price target on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus upped their price target on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen upped their price target on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird upped their price target on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.30.

Flowserve Trading Up 0.3 %

NYSE FLS opened at $60.06 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve has a twelve month low of $37.24 and a twelve month high of $61.60. The firm has a market capitalization of $7.89 billion, a PE ratio of 29.73, a P/E/G ratio of 1.44 and a beta of 1.38. The stock’s 50 day moving average is $53.83 and its 200 day moving average is $50.19.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts forecast that Flowserve will post 2.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flowserve

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Flowserve during the 3rd quarter valued at approximately $227,000. Toronto Dominion Bank grew its holdings in Flowserve by 4.4% during the 3rd quarter. Toronto Dominion Bank now owns 27,900 shares of the industrial products company’s stock valued at $1,442,000 after buying an additional 1,175 shares in the last quarter. Geode Capital Management LLC grew its holdings in Flowserve by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after buying an additional 23,529 shares in the last quarter. Vestcor Inc purchased a new stake in Flowserve during the 3rd quarter valued at approximately $714,000. Finally, Barclays PLC boosted its position in shares of Flowserve by 17.8% during the 3rd quarter. Barclays PLC now owns 229,379 shares of the industrial products company’s stock valued at $11,857,000 after acquiring an additional 34,645 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.