Baird Upgrades Flowserve Corp to Neutral with Price Target $43

Brokerage firm Baird Upgrades its rating on Flowserve Corp(FLS). In a research note issued to the investors, the brokerage major Announces the price-target to $43 per share. The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by the stock financial advisor at Baird was issued on Mar 15, 2017 in a research report to their Investors and Clients.

Flowserve Corp (FLS) made into the market gainers list on Fridays trading session with the shares advancing 0.15% or 0.07 points. Due to strong positive momentum, the stock ended at $46.99, which is also near the day’s high of $47.13. The stock began the session at $47.04 and the volume stood at 13,32,756 shares. The 52-week high of the shares is $52.5 and the 52 week low is $39.13. The company has a current market capitalization of $6,133 M and it has 13,05,20,401 shares in outstanding.

Flowserve Corp(FLS) last announced its earnings results on Feb 16, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $1.075B. Analysts had an estimated revenue of $1.070B. Earnings per share were $0.72. Analysts had estimated an EPS of $0.65.

Several Insider Transactions has been reported to the SEC. On Mar 2, 2017, Mark A Blinn (President & CEO) sold 42,500 shares at $46.93 per share price.Also, On Mar 2, 2017, Carey Oconnor (SVP, GC and Secretary) sold 10,500 shares at $46.97 per share price.On Mar 2, 2017, Thomas L Pajonas (EVP, Chief Operating Officer) sold 25,000 shares at $47.17 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

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