Flowserve (NYSE:FLS) Price Target Raised to $66.00 at Robert W. Baird

Flowserve (NYSE:FLS) had its target price upped by Robert W. Baird from $65.00 to $66.00 in a report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

A number of other research analysts also recently weighed in on FLS. Jefferies Financial Group initiated coverage on shares of Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 target price for the company. Bank of America reissued a “buy” rating and set a $60.00 target price on shares of Flowserve in a research report on Tuesday, September 24th. Stifel Nicolaus increased their target price on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. TD Cowen increased their target price on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.10.

Flowserve Trading Up 1.7 %

NYSE:FLS opened at $53.54 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 1.99. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.28 and a beta of 1.39. Flowserve has a 52 week low of $36.56 and a 52 week high of $55.90. The firm has a 50-day moving average price of $50.90 and a two-hundred day moving average price of $49.05.

Flowserve (NYSE:FLS) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts expect that Flowserve will post 2.71 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s payout ratio is 41.58%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares during the period. V Square Quantitative Management LLC bought a new position in Flowserve in the 3rd quarter valued at $27,000. nVerses Capital LLC purchased a new stake in shares of Flowserve during the 2nd quarter valued at $34,000. Allworth Financial LP raised its position in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after buying an additional 403 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after buying an additional 616 shares in the last quarter. 93.93% of the stock is owned by 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.