NEW YORK ( TheStreet) -- Flowserve Corporation (NYSE: FLS) hit a new 52-week high Friday as it is currently trading at $123.15, above its previous 52-week high of $123.09 with 359,000 shares traded as of 1:55 p.m. ET. Average volume has been 621,700 shares over the past 30 days. Flowserve has a market cap of $6.07 billion and is part of the industrial goods sector and industrial industry. Shares are up 19.6% year to date as of the close of trading on Thursday. Flowserve Corporation engages in the design, manufacture, distribution, and service of industrial flow management equipment. The company operates in three segments: FSG Engineered Product, FSG Industrial Product, and Flow Control. The company has a P/E ratio of 15.2, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Flowserve as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Flowserve Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.