Flowserve (NYSE:FLS), an industrial flow management equipment company, recently had its price objective raised by analysts at Mizuho. The new price target of $48.00 suggests a potential upside of 21.61% from the current price.
On Friday, Flowserve stock opened at $39.47. The company has a quick ratio of 1.29, a current ratio of 2.00, and a debt-to-equity ratio of 0.65. Over the past twelve months, Flowserve’s stock has ranged from a low of $23.89 to a high of $41.01. Currently, the company’s 50-day moving average price is $38.88, while its 200-day moving average price is $36.12.
With a market capitalization of $5.18 billion and a PE ratio of 21.93, Flowserve operates through its Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. FPD offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and various aftermarket services such as installation and commissioning services.
Recently in August this year, Flowserve reported its quarterly earnings data which showed promising results for the company’s performance in the industrial products sector. The company reported earnings per share (EPS) of $0.52 for the quarter, surpassing analysts’ consensus estimates by $0.12.
Moreover, Flowserve recorded a net margin of 5.98% and a return on equity (ROE) of 11.76%. Its quarterly revenue reached $1.08 billion compared to analysts’ expectations of $979.68 million—an increase of 22%. Analysts also predict that Flowserve will post an EPS of 1.97 for the current fiscal year.
Flowserve Corporation plays an essential role in designing, manufacturing, distributing, and servicing industrial flow management equipment across various regions such as the United States, the Middle East, Africa, Asia Pacific, and Europe.
Overall, with Mizuho’s raised price objective and its strong financial performance reflected in its recent quarterly earnings report, Flowserve presents an intriguing investment opportunity in the industrial flow management sector. Investors may find it valuable to consider Flowserve’s upward potential in light of this information.
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Flowserve Receives Mixed Ratings and Hedge Fund Activity Reflects Market Interest
Flowserve, an industrial products company, has recently received a range of ratings and target price adjustments from various research firms. These evaluations provide insight into the market’s perception of the company and its future prospects.
Morgan Stanley, in a research note on August 3rd, increased Flowserve’s target price from $41.00 to $43.00 and assigned the company an “equal weight” rating. Similarly, Jefferies Financial Group upgraded the stock from a “hold” rating to a “buy” rating and raised their price target from $40.00 to $50.00 on September 30th.
StockNews.com initiated coverage on Flowserve with a “buy” rating on August 17th, further highlighting positive sentiment towards the company. On the other hand, The Goldman Sachs Group increased their price objective from $34.00 to $38.00 and provided a “sell” rating for Flowserve on August 3rd.
Royal Bank of Canada also upped their target price from $40.00 to $42.00 and assigned a “sector perform” rating on August 3rd.
These diverse ratings indicate that research firms hold varying opinions about Flowserve’s future performance, with some seeing it as an attractive investment opportunity and others expressing caution.
Considering all these evaluations together, Bloomberg.com reports that Flowserve currently has a consensus rating of “Hold” along with a consensus price target of $41.80 as of September 30th.
In addition to these ratings changes and target price adjustments, there have been notable shifts in positions by hedge funds regarding Flowserve.
Barclays PLC significantly increased its holdings in Flowserve by 182.6% during the second quarter, adding an additional 71,475 shares valued at approximately $4,109,000. Similarly, Comerica Bank acquired a new position in the company during the same period worth around $138,760,000.
Osaic Holdings Inc. raised its position by 82.6% during the second quarter, accumulating an additional 13,251 shares valued at $1,089,000. Meanwhile, Teachers Retirement System of The State of Kentucky raised its position by 10.9%, adding 2,152 shares worth $813,000.
Nuveen Asset Management LLC also increased its stake in Flowserve by 17.8% during the second quarter, acquiring an additional 304,769 shares valued at $75,083,000.
These changes in positions reflect the interest and confidence that hedge funds have shown in Flowserve as an investment opportunity.
Overall, Flowserve has generated a range of opinions among research firms regarding its future prospects. While some consider it a potential buy with higher target prices and positive outlooks, others express caution or advise selling. The movements made by hedge funds further indicate the market’s intrigue surrounding the company’s stock. Investors should carefully evaluate these varying assessments before making any investment decisions related to Flowserve.
