Flowserve Corp Receives a Hold from RBC Capital


In a report issued on July 10, Deane Dray from RBC Capital reiterated a Hold rating on Flowserve Corp (NYSE: FLS), with a price target of $40. The company’s shares closed yesterday at $42.07.

According to TipRanks.com, Dray is a 4-star analyst with an average return of 5.3% and a 60.1% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group Inc, Gates Industrial Corp Plc, and Emerson Electric Company.

The word on The Street in general, suggests a Hold analyst consensus rating for Flowserve Corp with a $42.50 average price target.

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Based on Flowserve Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $15.14 million. In comparison, last year the company had a net profit of $41.88 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: Engineered Product Division, Industrial Product Division, and Flow Control Division.

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