Flowserve Corporation Sees Unusually Large Options Volume (NYSE:FLS)

Flowserve Corporation (NYSE:FLS) was the recipient of some unusual options trading on Thursday. Stock traders bought 852 call options on the company. This represents an increase of approximately Infinity compared to the typical daily volume of 0 call options.

Flowserve Corporation (NYSE FLS) opened at $39.37 on Tuesday. Flowserve Corporation has a twelve month low of $37.51 and a twelve month high of $52.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30. The company has a market capitalization of $5,111.75, a price-to-earnings ratio of 25.08, a PEG ratio of 3.16 and a beta of 1.55.

Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. Flowserve Corporation had a return on equity of 12.09% and a net margin of 4.58%. The firm had revenue of $883.38 million during the quarter, compared to analyst estimates of $871.20 million. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. research analysts anticipate that Flowserve Corporation will post 1.38 EPS for the current fiscal year.

Several equities research analysts recently commented on FLS shares. Stifel Nicolaus restated a “buy” rating and set a $45.00 target price on shares of Flowserve Corporation in a research report on Sunday, September 3rd. BidaskClub downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Citigroup Inc. reaffirmed a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Flowserve Corporation in a research note on Monday, October 9th. Finally, KeyCorp reissued a “hold” rating on shares of Flowserve Corporation in a research note on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.27.

Several institutional investors have recently bought and sold shares of the company. AMP Capital Investors Ltd boosted its holdings in shares of Flowserve Corporation by 4.6% in the third quarter. AMP Capital Investors Ltd now owns 40,559 shares of the industrial products company’s stock worth $1,728,000 after acquiring an additional 1,800 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Flowserve Corporation by 18.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 18,648 shares of the industrial products company’s stock worth $794,000 after buying an additional 2,858 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Flowserve Corporation by 4.4% in the third quarter. Envestnet Asset Management Inc. now owns 50,513 shares of the industrial products company’s stock worth $2,150,000 after buying an additional 2,135 shares in the last quarter. FDO Partners LLC raised its position in shares of Flowserve Corporation by 64.7% in the third quarter. FDO Partners LLC now owns 79,690 shares of the industrial products company’s stock worth $3,394,000 after buying an additional 31,304 shares in the last quarter. Finally, Tredje AP fonden raised its position in shares of Flowserve Corporation by 301.9% in the third quarter. Tredje AP fonden now owns 18,930 shares of the industrial products company’s stock worth $810,000 after buying an additional 14,220 shares in the last quarter.

COPYRIGHT VIOLATION WARNING: “Flowserve Corporation Sees Unusually Large Options Volume (NYSE:FLS)” was first reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.truebluetribune.com/2017/11/14/traders-purchase-high-volume-of-call-options-on-flowserve-corporation-fls.html.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Receive News & Ratings for Flowserve Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply