Flowserve (NYSE:FLS) Earns Buy (B-) Rating from Weiss Ratings

Flowserve (NYSE:FLS - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus lifted their target price on shares of Flowserve from $63.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. The Goldman Sachs Group lifted their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Citigroup boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Flowserve presently has an average rating of "Buy" and an average price target of $65.78.

Flowserve Stock Performance

Shares of FLS opened at $52.42 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. The stock has a market cap of $6.86 billion, a P/E ratio of 23.72, a PEG ratio of 1.06 and a beta of 1.27. The company has a 50-day moving average of $54.15 and a two-hundred day moving average of $50.63. Flowserve has a 12-month low of $37.34 and a 12-month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.22 billion. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. As a group, research analysts predict that Flowserve will post 3.18 EPS for the current fiscal year.

Insider Transactions at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the sale, the insider directly owned 37,196 shares in the company, valued at approximately $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Flowserve by 0.4% in the first quarter. Principal Financial Group Inc. now owns 302,275 shares of the industrial products company's stock valued at $14,763,000 after purchasing an additional 1,103 shares during the period. KBC Group NV grew its stake in Flowserve by 4.8% during the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock worth $277,000 after buying an additional 258 shares during the period. GAMMA Investing LLC increased its position in shares of Flowserve by 26.6% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company's stock worth $112,000 after acquiring an additional 481 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of Flowserve in the first quarter worth $216,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Flowserve by 453.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company's stock worth $8,402,000 after acquiring an additional 139,939 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.

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