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FLS

Flowserve

$50.59

4.69 (10.22%)

10:06
08/09/18
08/09
10:06
08/09/18
10:06

Technical Take: Flowserve rallies after earnings beat

The stock is one of the bigger gainers in the S&P 500, last trading up over 11.7% to $51.33. At that price initial resistance is at the fresh 52-week high set today at $51.55 and then at $52.31. Support is at $50.03.

  • 09

    Aug

FLS Flowserve
$50.59

4.69 (10.22%)

02/20/18
RBCM
02/20/18
UPGRADE
Target $46
RBCM
Sector Perform
Flowserve upgraded to Sector Perform at RBC Capital ahead of turnaround plan
As reported earlier, RBC Capital analyst Deane Dray upgraded Flowserve to Sector Perform from Underperform and raised his price target to $46 from $39. Dray cites his expectations of an announcement of a turnaround plan from the new CEO and believes the stock may have bottomed, since the Q4 operating miss and "low-balled FY18 outlook" did not produce new selling pressure.
02/20/18
02/20/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chipotle (CMG) upgraded to Hold from Sell at Stifel with analyst Chris O'Cull saying that his opinion of the company's fundamentals has not changed, but sentiment has improved and he believes investor optimism will likely outweigh fundamentals in the near-term. 2. Hyatt (H) and Marriott (MAR) were upgraded to In Line from Underperform at Evercore ISI. 3. Flowserve (FLS) upgraded to Sector Perform from Underperform at RBC Capital with analyst Deane Dray citing his expectations of an announcement of a turnaround plan from the new CEO and believes the stock may have bottomed, since the fourth quarter operating miss and "low-balled fiscal 2018 outlook" did not produce new selling pressure. 4. UPS (UPS) upgraded to Buy from Hold at Edward Jones. 5. Universal Display (OLED) upgraded to Buy from Hold at Needham with analyst James Ricchiuti saying he has been looking for the right entry point on the stock since the summer, and the recent 25% selloff from the high offers that opportunity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/14/18
DADA
05/14/18
NO CHANGE
Target $42
DADA
Neutral
Flowserve margins may stabilize in single digits, says DA Davidson
DA Davidson analyst Brent Thielman keeps his Neutral rating and $42 price target on Flowserve, saying the company's Q1 results saw GAAP operating margins decline amid "a combination of product mix, timing, execution on lower-margin backlog and more challenging industry conditions". While the analyst expects some stabilization, he also warns that Flowserve's operating margins may stabilize in the single digits vs. low to mid-teens, which could lead to a "valuation re-rating".
05/14/18
RBCM
05/14/18
NO CHANGE
Target $43
RBCM
Sector Perform
Flowserve price target lowered to $43 from $46 at RBC Capital
RBC Capital analyst Deane Dray lowered his price target on Flowserve to $43, saying the company's reiterated guidance for FY18 was a shortfall relative to "elevated" expectations of raises this earnings season. The analyst also cites another net loss in the Industrial Product Division and higher "past-due backlog" prompting a 9% sell-off in the stock price after its Q1 results. Dray keeps his Sector Perform rating on Flowserve, noting the company is still "close to bottoming" while the market awaits more turnaround detail from its new CEO.

TODAY'S FREE FLY STORIES

KFS

Kingsway Financial

$2.30

-0.14 (-5.74%)

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AWK

American Water

$104.63

2.32 (2.27%)

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American Water signs contract to acquire East Pasadena Water Company »

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FSNN

Fusion

$0.24

0.0048 (2.01%)

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  • 28

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PSA

Public Storage

$217.43

0.81 (0.37%)

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Public Storage announces change of Chief Legal Officer »

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  • 24

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    Jun

V

Visa

$160.14

-0.33 (-0.21%)

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Visa board elects Visa CEO Al Kelly as Chair »

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  • 24

    Apr

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    Jun

NAVB

Navidea

$0.17

0.0001 (0.06%)

19:39
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Navidea announces one-for-twenty reverse stock split »

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TISA

Top Image Systems

$0.84

-0.0069 (-0.81%)

19:37
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Hot Stocks
Top Image sees voluntarily delisting to be complete before Nasdaq deadline »

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FCPT

Four Corners Property Trust

$28.17

0.49 (1.77%)

19:33
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Four Corners Property Trust acquires restaurant properties for $2.6M »

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  • 24

    Apr

PRK

Park National

$93.98

-2.72 (-2.81%)

19:32
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19:32
Earnings
Park National reports Q1 EPS $1.62, two estimates $1.61 »

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  • 22

    Apr

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    May

STNE

StoneCo

$26.50

-8.25 (-23.74%)

19:29
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StoneCo says latest incentive offers from competitors don't change strategy »

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  • 11

    Jun

GPIC

Gaming Partners

$13.09

(0.00%)

19:24
04/19/19
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Hot Stocks
Gaming Partners sees acquisition by Angel closing on May 1 »

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

17:04
04/19/19
04/19
17:04
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17:04
Conference/Events
Charles Schwab to hold a webcast »

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  • 26

    Apr

  • 15

    May

12:45
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General news
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MMNFF

MedMen

$0.00

(0.00%)

11:13
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Hot Stocks
MedMen announces resignations of COO and General Counsel »

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

11:08
04/19/19
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Hot Stocks
Turkcell sees conclusion of $4.2B lawsuit against MTN this year »

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
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11:05
Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
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Qumu announces death of director Thomas Madison »

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  • 01

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FAT

Fat Brands

$5.15

0.065 (1.28%)

10:54
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Fat Brands announces development of Fatburger concept in Albuquerque »

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HRTG

Heritage Insurance

$14.32

0.25 (1.78%)

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Heritage Insurance announces preliminary Q1 catastrophe losses of $15.4M »

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  • 01

    May

COTY

Coty

$11.27

0.02 (0.18%)

10:48
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Coty notes extension of tender offer by affiliate of JAB Holding Company »

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NTES

NetEase

$265.88

-2.34 (-0.87%)

10:45
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NetEase announces music license agreement with Nippon Columbia »

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09:10
04/19/19
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General news
Today's U.S. housing report revealed March declines »

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U.S. housing starts fell 0.3% to 1.139 M in March »

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08:15
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Housing Starts to be reported at 08:30 »

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General news
Housing Starts Permits to be reported at 08:30 »

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