Flowserve Corp (FLS) was Reiterated by RBC Capital Mkts to “Underperform” while Lowering the Price Target of the company shares to $ 43 from a previous price target of $44 . RBC Capital Mkts advised their Clients and Investors in a research report released on Feb 21, 2017.
Based on several research reports , Company shares were Upgraded by Seaport Global Securities on Jan 23, 2017 to ” Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $48 .Robert W. Baird Downgraded Flowserve Corp on Dec 12, 2016 to ” Underperform”, Price Target of the shares are set at $42.Company shares were Reiterated by Stifel on Dec 5, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .
On the company’s financial health, Flowserve Corp reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Feb 16, 2017. Analyst had a consensus of $0.65. The company had revenue of $1074.65 million for the quarter, compared to analysts expectations of $1069.86 million. The company’s revenue was down -16.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.89 EPS.
Several company insiders have filed Insider transactions , on Nov 4, 2016, Mark A Blinn (President & CEO) sold 119,232 shares at $41.64 per share price. According to the SEC, on Aug 4, 2016, Thomas L Pajonas (EVP, Chief Operating Officer) sold 35,000 shares at $45.49 per share price. On Aug 4, 2016, William C Rusnack (director) sold 2,169 shares at $46.72 per share price, according to the Form-4 filing with the securities and exchange commission.
Flowserve Corp closed down -2.44 points or -4.80% at $48.37 with 50,94,007 shares getting traded on Friday. Post opening the session at $48.5, the shares hit an intraday low of $48.18 and an intraday high of $50.03 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufactures precision-engineered flow control equipment integral to the movement control and protection of the flow of materials. The Company operates through three segments: Engineered Product Division (EPD) Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs manufactures distributes and services engineered pumps and pump systems mechanical seals auxiliary systems replacement parts and related equipment. Its IPD designs manufactures distributes and services pre-configured engineered pumps and pump systems including submersible motors for industrial markets. The Company’s FCD designs manufactures distributes and services a portfolio of industrial valve and automation solutions including isolation and control valves actuation controls and related equipment.