New Rating issued on Flowserve Corp (FLS): Upgraded by Robert W. Baird to ” Neutral”

Flowserve Corp (FLS) was Upgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $43. Earlier the firm had a rating of “Underperform ” on the company shares. Robert W. Baird advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Robert W. Baird Upgraded Flowserve Corp on Mar 15, 2017 to ” Neutral”, Price Target of the shares are set at $43.Shares were Reiterated by RBC Capital Mkts on Feb 21, 2017 to “Underperform” and Lowered the Price Target to $ 43 from a previous price target of $44 .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 .

Several company insiders have filed Insider transactions , on Mar 2, 2017, Mark A Blinn (President & CEO) sold 42,500 shares at $46.93 per share price. According to the SEC, 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.

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.

Flowserve Corp opened for trading at $46.31 and hit $47.51 on the upside on Wednesday, eventually ending the session at $47.18, with a gain of 3.72% or 1.69 points. The heightened volatility saw the trading volume jump to 17,26,153 shares. Company has a market cap of $6,158 M.

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.

Flowserve Corp

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