Flowserve (NYSE:FLS) Cut to “Buy” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Flowserve (NYSE:FLS – Free Report) from a strong-buy rating to a buy rating in a research note released on Friday.

Other research analysts have also recently issued research reports about the company. Bank of America reiterated a “neutral” rating and issued a $73.00 price objective (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Citigroup boosted their price objective on shares of Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Stifel Nicolaus set a $84.00 price objective on shares of Flowserve in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group upped their price target on Flowserve from $64.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.33.

View Our Latest Stock Analysis on FLS

Flowserve Trading Up 1.1%

FLS opened at $71.35 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 2.10. Flowserve has a one year low of $37.34 and a one year high of $72.08. The company has a market cap of $9.07 billion, a P/E ratio of 20.74, a PEG ratio of 1.38 and a beta of 1.32. The business’s 50-day simple moving average is $60.03 and its 200-day simple moving average is $55.08.

Flowserve (NYSE:FLS – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, equities research analysts expect that Flowserve will post 3.18 EPS for the current fiscal year.

Insider Activity

In other news, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the transaction, the insider directly owned 15,116 shares in the company, valued at $1,050,713.16. The trade was a 9.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total transaction of $746,796.67. Following the transaction, the insider directly owned 6,589 shares of the company’s stock, valued at $461,295.89. This represents a 61.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,276 shares of company stock worth $4,196,578 in the last three months. 0.76% of the stock is owned by insiders.

Institutional Trading of Flowserve

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC bought a new stake in shares of Flowserve in the 2nd quarter worth about $25,000. First Horizon Advisors Inc. acquired a new position in Flowserve in the second quarter valued at about $26,000. BOKF NA bought a new stake in Flowserve during the third quarter worth about $28,000. Hilltop National Bank acquired a new stake in shares of Flowserve during the second quarter worth approximately $31,000. Finally, IFP Advisors Inc raised its stake in shares of Flowserve by 1,289.6% in the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 619 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

(Get Free Report)

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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