Flowserve Co. (NYSE:FLS) Short Interest Update

Flowserve Co. (NYSE:FLS - Get Free Report) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,480,000 shares, a decline of 11.4% from the October 15th total of 1,670,000 shares. Based on an average trading volume of 1,210,000 shares, the short-interest ratio is currently 1.2 days.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Flowserve in a report on Friday, October 18th. They issued a "buy" rating and a $65.00 price target for the company. Royal Bank of Canada boosted their target price on Flowserve from $55.00 to $57.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. StockNews.com cut Flowserve from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 8th. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Bank of America raised their target price 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.10.

Institutional Trading of Flowserve

Several large investors have recently added to or reduced their stakes in FLS. State Street Corp grew its holdings in shares of Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock worth $201,685,000 after acquiring an additional 37,132 shares during the period. AQR Capital Management LLC boosted its position in shares of Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company's stock valued at $132,221,000 after purchasing an additional 663,631 shares in the last quarter. Earnest Partners LLC grew its stake in Flowserve by 4.8% in the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company's stock worth $128,841,000 after purchasing an additional 121,873 shares during the period. Millennium Management LLC raised its holdings in Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company's stock worth $126,259,000 after purchasing an additional 1,596,429 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Flowserve by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company's stock valued at $134,577,000 after buying an additional 44,039 shares during the period. Institutional investors own 93.93% of the company's stock.

Flowserve Trading Up 0.1 %

Flowserve stock traded up $0.04 during mid-day trading on Friday, hitting $59.23. The company's stock had a trading volume of 676,296 shares, compared to its average volume of 1,345,157. The business has a 50 day moving average price of $52.97 and a 200-day moving average price of $49.93. Flowserve has a 12 month low of $37.24 and a 12 month high of $61.60. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts forecast that Flowserve will post 2.72 EPS for the current year.

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.