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Flowserve Corp.
Flowserve’s shares have underperformed for the past six months, compared to the Zacks-categorized Machinery-General Industrial industry’s average return over the same time frame. Also, the company has a dismal track record, having missed estimates each time in the trailing four quarters. Of late, the company’s results have been hit by capital spending deferrals, reduced activity in its key markets and currency headwinds.However, the company’s internal actions like efforts to increase manufacturing capabilities and labor hours have started to be fruitful and are likely to propel growth over the long run. Also, the company’s “One Flowserve Culture” and cost-saving initiatives show promise and will likely strengthen its ability to cope with broader market challenges. Also, investment opportunities in some selected geographies are expected to be conducive to growth.