In a report issued on July 28, Michael Halloran from Robert W. Baird maintained a Hold rating on Flowserve (FLS – Research Report), with a price target of $38.00. The company’s shares closed last Friday at $33.84.
According to TipRanks.com, Halloran is a 5-star analyst with an average return of 9.7% and a 55.5% success rate. Halloran covers the Industrial Goods sector, focusing on stocks such as Evoqua Water Technologies, Advanced Drainage Systems, and Emerson Electric Company.
Currently, the analyst consensus on Flowserve is a Moderate Buy with an average price target of $37.00, implying a 13.1% upside from current levels. In a report issued on July 13, RBC Capital also maintained a Hold rating on the stock with a $31.00 price target.
Based on Flowserve’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $882 million and net profit of $44.78 million. In comparison, last year the company earned revenue of $898 million and had a net profit of $45.35 million.
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Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pump Division and Flow Control Division. The Flowserve Pump Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services. The Flow Control Division segment involves engineered and industrial valves, control valves, actuators and controls and related services. The company was founded in 1790 and is headquartered in Irving, TX.
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