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Jefferies Upgrades Flowserve Corp. (FLS) to a Buy from a Hold

In a filing, Flowserve Corp. revealed its President, FCD Wilson Kirk unloaded Company’s shares for reported $0.84 million on Feb 26 ’24. In the deal valued at $42.12 per share,20,000 shares were sold. As a result of this transaction, Wilson Kirk now holds 46,832 shares worth roughly $2.31 million.

Jefferies upgraded its Flowserve Corp. [FLS] rating to a Buy from a a Hold in a research note published on September 26, 2023; the price target was increased to $50 from $40. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in late January from “a Neutral” to “a Buy”. Credit Suisse also remained covering FLS and has decreased its forecast on September 15, 2022 with a “Neutral” recommendation from previously “an Outperform” rating. BofA Securities revised its rating on July 11, 2022. It rated FLS as “a Neutral” which previously was an “an Underperform”.

Price Performance Review of FLS

On Monday, Flowserve Corp. [NYSE:FLS] saw its stock fall -0.69% to $49.25. Over the last five days, the stock has gained 2.28%. Flowserve Corp. shares have risen nearly 19.48% since the year began. Nevertheless, the stocks have risen 40.96% over the past one year. While a 52-week high of $49.82 was reached on 05/13/24, a 52-week low of $32.49 was recorded on 01/08/24. SMA at 50 days reached $46.16, while 200 days put it at $41.05. A total of 0.67 million shares were traded, compared to the trading of 0.83 million shares in the previous session.

Levels Of Support And Resistance For FLS Stock

The 24-hour chart illustrates a support level at 48.96, which if violated will result in even more drops to 48.66. On the upside, there is a resistance level at 49.69. A further resistance level may holdings at 50.12. The Relative Strength Index (RSI) on the 14-day chart is 71.99, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.54, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.99%. Stochastics %K at 92.75% indicates the stock is a selling.

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