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

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

FLS has been the subject of a number of other research reports. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. Citigroup lowered their target price on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a report on Monday, April 14th. Stifel Nicolaus boosted their price target on shares of Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada boosted their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $63.00.

Flowserve Stock Performance

Shares of NYSE:FLS traded up $1.72 during midday trading on Friday, hitting $48.90. The company's stock had a trading volume of 3,542,088 shares, compared to its average volume of 1,366,838. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock's 50 day simple moving average is $46.36 and its 200 day simple moving average is $53.90. Flowserve has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm's revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. As a group, research analysts anticipate that Flowserve will post 3.18 earnings per share for the current year.

Institutional Investors Weigh In On Flowserve

A number of institutional investors and hedge funds have recently modified their holdings of FLS. Inspire Investing LLC grew its stake in Flowserve by 1.2% in the 1st quarter. Inspire Investing LLC now owns 45,960 shares of the industrial products company's stock valued at $2,245,000 after buying an additional 526 shares during the last quarter. Strs Ohio bought a new stake in shares of Flowserve during the 1st quarter worth approximately $1,703,000. Acadian Asset Management LLC lifted its holdings in shares of Flowserve by 266.9% during the 1st quarter. Acadian Asset Management LLC now owns 192,970 shares of the industrial products company's stock worth $9,421,000 after acquiring an additional 140,380 shares during the period. SageView Advisory Group LLC lifted its holdings in shares of Flowserve by 55.6% during the 1st quarter. SageView Advisory Group LLC now owns 7,000 shares of the industrial products company's stock worth $342,000 after acquiring an additional 2,500 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Flowserve by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 634,846 shares of the industrial products company's stock valued at $31,006,000 after acquiring an additional 35,363 shares in the last quarter. 93.93% of the stock is 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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