Flowserve Corporation (FLS) Upgraded by Susquehanna Bancshares Inc to “Positive”

Susquehanna Bancshares Inc upgraded shares of Flowserve Corporation (NYSE:FLS) from a neutral rating to a positive rating in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $46.00 price objective on the industrial products company’s stock, down from their prior price objective of $50.00.

A number of other equities research analysts have also weighed in on the stock. UBS AG upgraded shares of Flowserve Corporation from a neutral rating to a positive rating in a report on Tuesday. Cowen and Company reiterated a buy rating and set a $50.00 price target on shares of Flowserve Corporation in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Flowserve Corporation from a sell rating to a hold rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Flowserve Corporation in a research note on Monday, July 31st. Finally, BidaskClub lowered shares of Flowserve Corporation from a sell rating to a strong sell rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $48.36.

Flowserve Corporation (FLS) opened at 38.12 on Tuesday. Flowserve Corporation has a 12 month low of $38.11 and a 12 month high of $52.10. The firm has a market capitalization of $4.98 billion, a P/E ratio of 47.65 and a beta of 1.46. The stock’s 50 day moving average price is $43.46 and its 200-day moving average price is $46.92.

Flowserve Corporation (NYSE:FLS) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.21. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The firm had revenue of $877 million during the quarter, compared to analyst estimates of $933.91 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. Flowserve Corporation’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities analysts forecast that Flowserve Corporation will post $1.43 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its stake in shares of Flowserve Corporation by 1.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 330,979 shares of the industrial products company’s stock valued at $15,906,000 after buying an additional 3,736 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Flowserve Corporation by 21.1% in the first quarter. Bank of America Corp DE now owns 530,492 shares of the industrial products company’s stock valued at $25,686,000 after buying an additional 92,488 shares during the last quarter. World Asset Management Inc increased its stake in shares of Flowserve Corporation by 15.6% in the first quarter. World Asset Management Inc now owns 14,777 shares of the industrial products company’s stock valued at $716,000 after buying an additional 1,989 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Flowserve Corporation by 62.6% in the first quarter. Great Lakes Advisors LLC now owns 132,719 shares of the industrial products company’s stock valued at $6,426,000 after buying an additional 51,097 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Flowserve Corporation by 29.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,682 shares of the industrial products company’s stock valued at $469,000 after buying an additional 2,204 shares during the last quarter.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analyst Recommendations for Flowserve Corporation (NYSE:FLS)

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