Stifel Nicolaus Cuts Flowserve (FLS) Price Target to $44.00

Flowserve (NYSE:FLS) had its target price trimmed by Stifel Nicolaus from $47.00 to $44.00 in a research report report published on Tuesday morning, Marketbeat reports. The firm currently has a hold rating on the industrial products company’s stock.

Several other equities analysts have also commented on FLS. Zacks Investment Research lowered Flowserve from a hold rating to a sell rating in a research note on Wednesday, February 7th. Royal Bank of Canada upgraded Flowserve from an underperform rating to a sector perform rating in a research note on Tuesday. BMO Capital Markets lowered Flowserve from an outperform rating to a market perform rating and dropped their target price for the company from $51.00 to $41.00 in a research note on Friday, November 3rd. Seaport Global Securities lowered Flowserve from a buy rating to a neutral rating and dropped their price target for the stock from $60.00 to $40.00 in a research note on Friday, November 3rd. Finally, Boenning Scattergood restated a hold rating on shares of Flowserve in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $43.67.

Flowserve (NYSE:FLS) opened at $43.70 on Tuesday. The company has a market capitalization of $5,754.47, a price-to-earnings ratio of -2,185.00, a P/E/G ratio of 2.86 and a beta of 1.54. Flowserve has a 12 month low of $37.51 and a 12 month high of $51.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 1.35.

Flowserve (NYSE:FLS) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.02). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. equities analysts predict that Flowserve will post 1.71 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in FLS. University of Texas Investment Managment Co. acquired a new stake in shares of Flowserve in the fourth quarter valued at about $107,000. Assetmark Inc. grew its stake in shares of Flowserve by 26,030.0% in the fourth quarter. Assetmark Inc. now owns 2,613 shares of the industrial products company’s stock valued at $110,000 after buying an additional 2,603 shares in the last quarter. Zions Bancorporation acquired a new stake in shares of Flowserve in the third quarter valued at about $117,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Flowserve in the fourth quarter valued at about $118,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Flowserve in the fourth quarter valued at about $122,000.

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About Flowserve

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analyst Recommendations for Flowserve (NYSE:FLS)

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