The Goldman Sachs Group Boosts Flowserve (NYSE:FLS) Price Target to $52.00

Flowserve (NYSE:FLS - Get Free Report) had its price target upped by equities research analysts at The Goldman Sachs Group from $46.00 to $52.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "sell" rating on the industrial products company's stock. The Goldman Sachs Group's target price points to a potential downside of 3.45% from the company's current price.

FLS has been the topic of a number of other research reports. TD Cowen increased their price target on Flowserve from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Bank of America restated a "buy" rating and set a $60.00 target price on shares of Flowserve in a research note on Tuesday, September 24th. Royal Bank of Canada upped their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Flowserve from $57.00 to $60.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.33.

Flowserve Stock Down 0.7 %

Shares of FLS stock traded down $0.36 during trading on Thursday, reaching $53.86. The company's stock had a trading volume of 630,549 shares, compared to its average volume of 1,074,051. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.16 and a beta of 1.39. Flowserve has a one year low of $35.31 and a one year high of $54.61. The business has a fifty day moving average price of $48.48 and a 200-day moving average price of $48.21. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. Flowserve's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. Analysts anticipate that Flowserve will post 2.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC increased its stake in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock valued at $27,000 after buying an additional 370 shares during the period. nVerses Capital LLC bought a new position in shares of Flowserve during the second quarter valued at $34,000. Raleigh Capital Management Inc. raised its stake in shares of Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 596 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company's stock worth $47,000 after purchasing an additional 616 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Flowserve in the second quarter valued at $70,000. Institutional investors own 93.93% of the company's stock.

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.