Flowserve (NYSE:FLS) Price Target Increased to $65.00 by Analysts at Mizuho

Flowserve (NYSE:FLS) had its target price boosted by Mizuho from $58.00 to $65.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

FLS has been the topic of a number of other reports. Robert W. Baird boosted their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their target price on Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. Stifel Nicolaus lifted their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Flowserve Price Performance

FLS stock opened at $54.51 on Thursday. Flowserve has a 52-week low of $35.31 and a 52-week high of $55.90. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The business has a fifty day moving average of $49.71 and a two-hundred day moving average of $48.65.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. As a group, research analysts anticipate that Flowserve will post 2.76 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, September 27th. Flowserve’s dividend payout ratio is currently 47.46%.

Hedge Funds Weigh In On Flowserve

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Flowserve by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after acquiring an additional 144,704 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Flowserve during the fourth quarter worth $440,000. 180 Wealth Advisors LLC purchased a new position in Flowserve in the first quarter valued at $248,000. Hennessy Advisors Inc. raised its stake in Flowserve by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 617,900 shares of the industrial products company’s stock valued at $28,226,000 after buying an additional 76,400 shares in the last quarter. Finally, First Bank & Trust purchased a new stake in Flowserve during the 1st quarter worth about $211,000. 93.93% of the stock is owned by institutional investors and hedge funds.

About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.