Citigroup Maintains Flowserve Corp to Neutral with Price Target $50.00

Brokerage firm Citigroup Maintains its rating on Flowserve Corp(NYSE:FLS). In a research note issued to the investors, the brokerage major Lowers the price-target to $50.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Aug 1, 2016.

In a different note, KeyBanc said it Initiates Coverage on Flowserve Corp, according to a research note issued on May 10, 2016. The shares have been rated ‘Sector Weight’ by the firm.

Flowserve Corp (FLS) made into the market gainers list on Mondays trading session with the shares advancing 1.26% or 0.59 points. Due to strong positive momentum, the stock ended at $47.48, which is also near the day’s high of $47.67. The stock began the session at $47.17 and the volume stood at 10,73,319 shares. The 52-week high of the shares is $52.5 and the 52 week low is $33.86. The company has a current market capitalization of $6,190 M and it has 13,03,79,968 shares in outstanding.

Flowserve Corp(FLS) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.03B. Analysts had an estimated revenue of $1.00B. Earnings per share were $0.57. Analysts had estimated an EPS of $0.61.

Several Insider Transactions has been reported to the SEC. On Aug 7, 2015, Keith E. Gillespie (Chief Strategy & Admin Officer) purchased 10,719 shares at $46.60 per share price.Also, On Aug 7, 2015, William C Rusnack (director) sold 1,692 shares at $46.71 per share price.On Feb 20, 2015, Michael S Taff (SVP and CFO) sold 30,000 shares at $62.48 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

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