BMO Capital Upgrades Flowserve Corp to Outperform with Price Target $53

Brokerage firm BMO Capital Upgrades its rating on Flowserve Corp(FLS). As per the latest information, BMO Capital Raises the price target to $53 per share from a prior target of $46. The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by the stock financial advisor at BMO Capital was issued on Mar 27, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 15, 2017, Baird said it Upgrades its rating on Flowserve Corp. In the research note, the firm Announces the price-target to $43 per share. The shares have been rated ‘Neutral’ by the firm.

Flowserve Corp (FLS) shares turned negative on Fridays trading session with the shares closing down -0.43 points or -0.93% at a volume of 10,11,250. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $46.54. The peak price level was also seen at $46.54 while the days lowest was $45.42. Finally the shares closed at $45.65. The 52-week high of the shares is $52.5 while the 52-week low is $39.13. According to the latest information available, the market cap of the company is $5,958 M.

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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