Flowserve (NYSE:FLS) Upgraded at The Goldman Sachs Group

Flowserve (NYSE:FLS - Get Free Report) was upgraded by The Goldman Sachs Group from a "sell" rating to a "neutral" rating in a report issued on Thursday, Marketbeat.com reports. The brokerage presently has a $69.00 target price on the industrial products company's stock, up from their previous target price of $55.00. The Goldman Sachs Group's target price would suggest a potential upside of 12.89% from the company's previous close.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Bank of America increased their price objective on Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Citigroup boosted their target price on Flowserve from $65.00 to $73.00 and gave the company a "buy" rating in a research note on Monday. Robert W. Baird lifted their price target on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group assumed coverage on Flowserve in a report on Friday, October 18th. They issued a "buy" rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $64.40.

Flowserve Stock Down 0.5 %

NYSE:FLS traded down $0.28 during trading hours on Thursday, hitting $61.12. 1,082,360 shares of the stock traded hands, compared to its average volume of 1,107,091. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.46 and a beta of 1.41. The firm has a 50 day moving average price of $57.30 and a 200 day moving average price of $51.41. 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 fifty-two week low of $38.28 and a fifty-two week high of $62.32.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The firm's revenue was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Flowserve will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On Flowserve

Hedge funds have recently modified their holdings of the business. Miracle Mile Advisors LLC acquired a new stake in Flowserve during the second quarter worth about $210,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Flowserve during the second quarter valued at approximately $37,100,000. RBA Wealth Management LLC increased its position in shares of Flowserve by 6.6% during the second quarter. RBA Wealth Management LLC now owns 72,594 shares of the industrial products company's stock valued at $3,492,000 after purchasing an additional 4,473 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Flowserve by 41.2% in the second quarter. Pallas Capital Advisors LLC now owns 14,840 shares of the industrial products company's stock valued at $746,000 after purchasing an additional 4,330 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in Flowserve in the second quarter worth $187,000. 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.