Flowserve (NYSE:FLS) Price Target Cut to $72.00 by Analysts at Citigroup

Flowserve (NYSE:FLS - Get Free Report) had its target price decreased by equities research analysts at Citigroup from $73.00 to $72.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Citigroup's target price would suggest a potential upside of 21.83% from the company's previous close.

Several other equities analysts have also issued reports on FLS. Robert W. Baird lifted their price target on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Mizuho boosted their target price on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Bank of America raised their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price objective on shares of Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.30.

Flowserve Price Performance

NYSE FLS traded up $0.84 during midday trading on Monday, hitting $59.10. The company had a trading volume of 700,728 shares, compared to its average volume of 1,076,118. The firm has a 50-day moving average price of $59.48 and a 200-day moving average price of $53.07. The company has a market capitalization of $7.76 billion, a PE ratio of 29.26, a P/E/G ratio of 1.46 and a beta of 1.41. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve has a twelve month low of $39.37 and a twelve month high of $62.32.

Flowserve (NYSE:FLS - Get Free Report) last posted 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). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. As a group, analysts anticipate that Flowserve will post 2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

A number of hedge funds and other institutional investors have recently made changes to their positions in FLS. Pallas Capital Advisors LLC grew its holdings in Flowserve by 9.9% during the 4th quarter. Pallas Capital Advisors LLC now owns 20,106 shares of the industrial products company's stock worth $1,156,000 after acquiring an additional 1,809 shares during the period. Michael S. Ryan Inc. lifted its stake in Flowserve by 4.6% in the fourth quarter. Michael S. Ryan Inc. now owns 8,351 shares of the industrial products company's stock valued at $480,000 after buying an additional 370 shares during the period. Oliver Luxxe Assets LLC acquired a new position in Flowserve in the fourth quarter valued at approximately $2,753,000. Insight Wealth Strategies LLC boosted its holdings in shares of Flowserve by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 67,744 shares of the industrial products company's stock worth $3,897,000 after buying an additional 1,051 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock worth $104,000 after buying an additional 290 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

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.