Analyst Price Target Update on Flowserve Corporation (NYSE:FLS)

Flowserve Corporation (NYSE:FLS): The stock price is expected to reach $ 45.42 in the short term. The number of analysts agreeing with this consensus is 12. The higher estimate for the short term price target is at $55 while the lower estimate is at $35. The standard deviation of the price stands at $5.26.

Many analysts have stated their opinion on the company shares. KeyBanc initiates coverage on Flowserve Corporation (NYSE:FLS). The rating major has initiated the coverage with sector weight rating on the shares. The rating by the firm was issued on May 10, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the officer (Chief Strategy & Admin Officer) of Flowserve Corp, Gillespie Keith E. had purchased shares worth of $499,505 in a transaction dated on August 6, 2015. A total of 10,719 shares were purchased at a price of $46.6 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Flowserve Corporation (NYSE:FLS) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.88 points or 1.73% at $49.95 with 922,319 shares getting traded. Post opening the session at $50.57, the shares hit an intraday low of $49.93 and an intraday high of $50.8 and the price was in this range throughout the day. The company has a market cap of $6,512 million and the number of outstanding shares have been calculated to be 130,366,915 shares. The 52-week high of Flowserve Corporation (NYSE:FLS) is $54.64 and the 52-week low is $33.86.

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 Companys 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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