Citigroup Issues Pessimistic Forecast for Flowserve (NYSE:FLS) Stock Price

Flowserve (NYSE:FLS - Get Free Report) had its target price cut by investment analysts at Citigroup from $72.00 to $56.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Citigroup's price objective would indicate a potential upside of 34.36% from the stock's current price.

A number of other research firms also recently weighed in on FLS. Royal Bank of Canada cut their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Mizuho lifted their price objective on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Robert W. Baird raised shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 target price for the company in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flowserve has a consensus rating of "Moderate Buy" and an average price target of $64.30.

Flowserve Trading Down 1.2 %

Shares of FLS traded down $0.51 on Monday, hitting $41.68. 1,672,596 shares of the stock traded hands, compared to its average volume of 1,248,476. The firm has a market capitalization of $5.49 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve has a 1 year low of $37.34 and a 1 year high of $65.08. The stock's 50 day moving average is $49.83 and its two-hundred day moving average is $55.71.

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

Institutional Investors Weigh In On Flowserve

A number of institutional investors have recently modified their holdings of the stock. FIL Ltd raised its stake in Flowserve by 71.7% during the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after buying an additional 2,193,904 shares in the last quarter. Norges Bank acquired a new position in shares of Flowserve in the 4th quarter valued at about $94,629,000. Driehaus Capital Management LLC grew its position in shares of Flowserve by 307.1% during the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock valued at $108,651,000 after buying an additional 1,424,948 shares during the last quarter. Invesco Ltd. raised its stake in Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after acquiring an additional 714,063 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Flowserve by 57.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company's stock valued at $82,859,000 after acquiring an additional 527,250 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.