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

Flowserve (NYSE:FLS) had its price target decreased by stock analysts at Citigroup from $72.00 to $56.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective suggests a potential upside of 31.89% from the company’s previous close.

Other research analysts have also issued research reports about the company. TD Cowen boosted their price target on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Mizuho lifted their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird raised shares of 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. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, StockNews.com downgraded Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.30.

Flowserve Stock Up 0.4 %

NYSE FLS traded up $0.18 during trading on Monday, hitting $42.46. The stock had a trading volume of 1,708,490 shares, compared to its average volume of 1,243,031. The company has a market capitalization of $5.59 billion, a PE ratio of 19.84, a P/E/G ratio of 1.35 and a beta of 1.22. Flowserve has a 12 month low of $37.34 and a 12 month high of $65.08. The company’s 50-day moving average price is $51.93 and its two-hundred day moving average price is $56.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, sell-side analysts forecast that Flowserve will post 3.18 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC raised its position in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve during the 3rd quarter valued at $29,000. Park Square Financial Group LLC bought a new position in shares of Flowserve in the fourth quarter worth $33,000. Colonial Trust Co SC raised its stake in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 478 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 278 shares during the period. 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.