Oppenheimer reissued their hold rating on shares of Flowserve (NYSE:FLS) in a research report sent to investors on Thursday, AnalystRatings.com reports.

FLS has been the topic of a number of other research reports. Credit Suisse Group reduced their price target on Flowserve from $34.00 to $30.00 and set an outperform rating on the stock in a report on Monday, May 11th. Zacks Investment Research downgraded Flowserve from a hold rating to a sell rating and set a $30.00 target price on the stock. in a report on Thursday, April 9th. Jefferies Financial Group initiated coverage on Flowserve in a report on Friday, April 17th. They set a hold rating and a $25.00 target price on the stock. Morgan Stanley upgraded Flowserve from an underweight rating to an equal weight rating and set a $23.00 target price on the stock in a report on Friday, May 22nd. Finally, Royal Bank of Canada reduced their target price on Flowserve from $24.00 to $22.00 and set a sector perform rating on the stock in a report on Monday, May 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $29.90.

NYSE:FLS traded down $2.07 during mid-day trading on Thursday, reaching $27.87. 3,106,033 shares of the company’s stock traded hands, compared to its average volume of 855,258. Flowserve has a 12-month low of $18.98 and a 12-month high of $51.76. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 2.78 and a beta of 1.81. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.19 and a quick ratio of 1.57. The company has a 50 day moving average price of $28.59 and a 200-day moving average price of $32.24.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.24. Flowserve had a return on equity of 14.82% and a net margin of 3.77%. The company had revenue of $924.97 million for the quarter, compared to the consensus estimate of $890.88 million. As a group, analysts forecast that Flowserve will post 1.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Friday, June 19th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, June 18th. Flowserve’s dividend payout ratio (DPR) is 36.36%.

A number of large investors have recently modified their holdings of the business. Key Financial Inc purchased a new stake in shares of Flowserve during the 1st quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Flowserve by 2,062.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,588 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Flowserve during the 1st quarter worth approximately $45,000. Delta Asset Management LLC TN raised its holdings in shares of Flowserve by 141.2% during the 1st quarter. Delta Asset Management LLC TN now owns 2,050 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Sowell Financial Services LLC raised its holdings in shares of Flowserve by 1,746.7% during the 1st quarter. Sowell Financial Services LLC now owns 2,807 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 2,655 shares in the last quarter. 95.92% of the stock is owned by institutional investors and hedge funds.

About Flowserve

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Analyst Recommendations for Flowserve (NYSE:FLS)

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