Flowserve (FLS) Receives a Hold from Oppenheimer

By Austin Angelo

In a report released yesterday, Bryan Blair from Oppenheimer maintained a Hold rating on Flowserve (FLSResearch Report). The company’s shares closed last Thursday at $29.94.

According to TipRanks.com, Blair is a 4-star analyst with an average return of 5.0% and a 54.7% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Flowserve with a $28.29 average price target.

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Based on Flowserve’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $894 million and GAAP net loss of $610K. In comparison, last year the company earned revenue of $890 million and had a net profit of $57.26 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.