Flowserve stock slips 2.51% and underperforms market and rivals
Updated
Updated · MarketWatch · May 7
Flowserve stock slips 2.51% and underperforms market and rivals
10 articles · Updated · MarketWatch · May 7
The shares closed at $71.54 on Thursday as the S&P 500 fell 0.38% to 7,337.11 and the Dow dropped 0.63% to 49,596.97.
Flowserve lagged peers including IDEX, down 1.52%, Graco, down 2.10%, and Parker Hannifin, down 1.75%, during the broad market sell-off.
The stock finished 22.58% below its 52-week high of $92.41 reached on 26 February, while trading volume of 3.1 million topped its 50-day average of 2.2 million.
With insiders confident but the stock falling, is Flowserve a bargain or a value trap for investors?
Can Flowserve's nuclear contracts and acquisitions shield it from Mideast tensions and supply chain chaos?