Flowserve (NYSE:FLS) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Flowserve (NYSE:FLS) has been upgraded from a "buy" rating to a "strong-buy" rating by Wall Street Zen, indicating increased confidence in the stock's performance.
• Several analysts have raised their price targets for Flowserve, with Citigroup setting a target at $65.00, suggesting positive market sentiment around the company.
• Flowserve reported earnings of $0.91 per share for the last quarter, exceeding analysts' expectations, and has a market capitalization of $7.04 billion.

Flowserve (NYSE:FLS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

FLS has been the topic of a number of other research reports. The Goldman Sachs Group raised their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Citigroup raised their price target on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Robert W. Baird reduced their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Mizuho set a $60.00 target price on Flowserve in a research report on Friday, May 16th. Finally, Stifel Nicolaus raised their target price on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $65.78.

Flowserve Stock Performance

Shares of FLS opened at $53.86 on Friday. The stock has a market capitalization of $7.04 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.17 and a beta of 1.28. The business's fifty day moving average price is $51.34 and its 200 day moving average price is $51.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.46. Flowserve has a 12-month low of $37.34 and a 12-month high of $65.08.

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

Institutional Investors Weigh In On Flowserve

A number of hedge funds and other institutional investors have recently modified their holdings of FLS. Peregrine Capital Management LLC grew its position in Flowserve by 44.2% in the 2nd quarter. Peregrine Capital Management LLC now owns 255,307 shares of the industrial products company's stock valued at $13,365,000 after buying an additional 78,317 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Flowserve by 13.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 40,335 shares of the industrial products company's stock worth $2,112,000 after acquiring an additional 4,849 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Flowserve by 2.5% in the second quarter. Envestnet Asset Management Inc. now owns 231,833 shares of the industrial products company's stock valued at $12,136,000 after acquiring an additional 5,593 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Flowserve during the second quarter valued at approximately $549,000. Finally, Focus Partners Advisor Solutions LLC raised its holdings in Flowserve by 38.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 7,734 shares of the industrial products company's stock worth $405,000 after purchasing an additional 2,137 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.

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