BMO Capital Keeps a Buy Rating on Flowserve Corp

By Carrie Williams

BMO Capital analyst Scott Graham reiterated a Buy rating on Flowserve Corp (NYSE: FLS) today and set a price target of $56. The company’s shares closed yesterday at $45.50.

According to TipRanks.com, Graham is a 4-star analyst with an average return of 7.5% and a 63.1% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Thermon Group Holdings Inc, Northwest Pipe Company, and Gorman-Rupp Company.

Currently, the analyst consensus on Flowserve Corp is Moderate Buy and the average price target is $52.40, representing a 15.2% upside.

In a report issued on June 16, Stifel Nicolaus also reiterated a Buy rating on the stock with a $55 price target.

Based on Flowserve Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $864 million and quarterly net profit of $14.82 million. In comparison, last year the company earned revenue of $947 million and had a net profit of $37.86 million.

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Flowserve Corp. develops and manufactures precision-engineered flow control equipment integral to the movement, control and protection of the flow of materials in its customer’s critical processes. It also engaged in providing fluid motion and control products and services.