Flowserve (NYSE:FLS) Rating Lowered to Buy at Wall Street Zen

Flowserve (NYSE:FLS) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

A number of other equities research analysts also recently commented on FLS. Cowen restated a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Citigroup raised their price objective on Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. UBS Group increased their target price on shares of Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.33.

Flowserve Trading Up 1.1%

NYSE:FLS traded up $0.79 on Friday, hitting $71.35. The stock had a trading volume of 448,474 shares, compared to its average volume of 2,061,455. The company has a fifty day moving average price of $60.03 and a two-hundred day moving average price of $55.04. Flowserve has a 1-year low of $37.34 and a 1-year high of $72.08. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.38 and a beta of 1.32.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $0.62 EPS. The business’s 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. Equities research analysts expect that Flowserve will post 3.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction 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 sale, the insider owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the completion of the sale, the insider owned 6,589 shares in the company, valued at approximately $461,295.89. The trade was a 61.82% decrease in their ownership of the stock. 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 over the last 90 days. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Flowserve

A number of hedge funds have recently bought and sold shares of FLS. CIBC Private Wealth Group LLC grew its position in shares of Flowserve by 30.1% during the third quarter. CIBC Private Wealth Group LLC now owns 4,299 shares of the industrial products company’s stock worth $228,000 after buying an additional 995 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Flowserve in the third quarter valued at approximately $368,000. Ariadne Wealth Management LP purchased a new position in Flowserve in the third quarter worth approximately $171,000. Caerus Investment Advisors LLC acquired a new position in Flowserve during the 3rd quarter worth approximately $203,000. Finally, Danske Bank A S acquired a new position in Flowserve during the 3rd quarter worth approximately $1,189,000. Institutional investors and hedge funds 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.