Flowserve (NYSE:FLS) Raised to Outperform at Royal Bank of Canada

Flowserve (NYSE:FLS) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has a $69.00 price objective on the industrial products company’s stock, up from their prior price objective of $57.00. Royal Bank of Canada’s price objective points to a potential upside of 13.11% from the company’s previous close.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. Mizuho raised their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird boosted their price objective on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, TD Cowen lifted their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.30.

Flowserve Trading Up 1.6 %

NYSE:FLS opened at $61.00 on Friday. Flowserve has a 12 month low of $37.34 and a 12 month high of $62.15. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $54.39 and its 200 day moving average is $50.35. The stock has a market capitalization of $8.01 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned $0.50 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts expect that Flowserve will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On Flowserve

Several hedge funds have recently bought and sold shares of FLS. O Shaughnessy Asset Management LLC raised its position in shares of Flowserve by 7.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock valued at $286,000 after buying an additional 426 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Flowserve by 1.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 86,629 shares of the industrial products company’s stock worth $3,957,000 after purchasing an additional 1,328 shares during the last quarter. Natixis boosted its holdings in shares of Flowserve by 964.3% in the 1st quarter. Natixis now owns 9,951 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 9,016 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Flowserve by 0.7% during the 1st quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock valued at $2,127,000 after purchasing an additional 305 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings in shares of Flowserve by 49.4% during the 1st quarter. Quadrature Capital Ltd now owns 15,944 shares of the industrial products company’s stock valued at $728,000 after buying an additional 5,271 shares in the last quarter. 93.93% of the stock is currently owned by 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.