Flowserve (NYSE:FLS) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Flowserve (NYSE:FLS) from a sell rating to a neutral rating in a report published on Thursday, MarketBeat.com reports. The firm currently has $69.00 price target on the industrial products company’s stock, up from their prior price target of $55.00.

Several other research analysts have also issued reports on FLS. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Stifel Nicolaus increased their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bank of America increased their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup increased their price objective on shares of Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Jefferies Financial Group started coverage on shares of Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.40.

Flowserve Stock Down 0.8 %

Shares of NYSE FLS opened at $60.62 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve has a 12 month low of $39.20 and a 12 month high of $62.32. The firm has a market capitalization of $7.96 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41. The firm has a fifty day simple moving average of $57.63 and a two-hundred day simple moving average of $51.57.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts expect that Flowserve will post 2.71 earnings per share for the current year.

Hedge Funds Weigh In On Flowserve

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after buying an additional 37,132 shares during the last quarter. AQR Capital Management LLC raised its stake in Flowserve by 31.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after acquiring an additional 663,631 shares during the period. Earnest Partners LLC raised its stake in Flowserve by 4.8% during the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock worth $128,841,000 after acquiring an additional 121,873 shares during the period. Millennium Management LLC raised its stake in Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after acquiring an additional 1,596,429 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Flowserve by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after acquiring an additional 44,039 shares during the period. Hedge funds and other 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.