Robert W. Baird Reaffirms Their Hold Rating on Flowserve Corp (FLS)


Robert W. Baird analyst Michael Halloran reiterated a Hold rating on Flowserve Corp (NYSE: FLS) yesterday and set a price target of $50. The company’s shares closed yesterday at $48.87.

According to TipRanks.com, Halloran is a 5-star analyst with an average return of 12.8% and a 77.2% success rate. Halloran covers the Industrial Goods sector, focusing on stocks such as Gardner Denver Holdings Inc, Advanced Drainage Systems, and Emerson Electric Company.

Currently, the analyst consensus on Flowserve Corp is a Hold with an average price target of $45.86, which is a -6.2% downside from current levels. In a report released yesterday, BMO Capital also reiterated a Hold rating on the stock with a $50 price target.

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Based on Flowserve Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $13.22 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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