Flowserve (NYSE:FLS) Price Target Raised to $75.00

Flowserve (NYSE:FLS) had its target price upped by Stifel Nicolaus from $72.00 to $75.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

FLS has been the subject of a number of other research reports. Citigroup cut their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Mizuho raised their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Jefferies Financial Group started coverage on Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target for the company. Finally, The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target of $67.50.

Flowserve Trading Down 0.4 %

NYSE:FLS opened at $64.06 on Friday. Flowserve has a 12 month low of $39.69 and a 12 month high of $65.08. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $60.27 and its 200 day moving average is $54.16. The stock has a market capitalization of $8.42 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.31 and a beta of 1.42.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Flowserve will post 2.7 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s payout ratio is 41.58%.

Institutional Investors Weigh In On Flowserve

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in Flowserve by 58.3% in the 2nd quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company’s stock worth $1,962,000 after buying an additional 15,029 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Flowserve by 13.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,074 shares of the industrial products company’s stock worth $428,000 after acquiring an additional 1,051 shares in the last quarter. Intech Investment Management LLC bought a new position in Flowserve in the second quarter valued at $208,000. Ensign Peak Advisors Inc raised its position in Flowserve by 18.0% during the second quarter. Ensign Peak Advisors Inc now owns 47,284 shares of the industrial products company’s stock valued at $2,274,000 after purchasing an additional 7,215 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Flowserve during the second quarter worth about $1,572,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Company Profile

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.