Flowserve (NYSE:FLS) Sets New 52-Week High – Should You Buy?

Flowserve Co. (NYSE:FLS) hit a new 52-week high during trading on Friday . The stock traded as high as $61.69 and last traded at $61.58, with a volume of 122659 shares trading hands. The stock had previously closed at $60.05.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group lifted their target price on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. Robert W. Baird upped their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus boosted their target price on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.30.

Flowserve Stock Performance

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 fifty day moving average price is $54.39 and its 200 day moving average price is $50.35. The firm has a market capitalization of $8.01 billion, a PE ratio of 30.20, a PEG ratio of 1.45 and a beta of 1.38.

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

Institutional Investors Weigh In On Flowserve

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after buying an additional 1,596,429 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of Flowserve in the 1st quarter valued at approximately $41,413,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Flowserve in the 2nd quarter worth approximately $37,100,000. AQR Capital Management LLC boosted its position in Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after purchasing an additional 663,631 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after purchasing an additional 606,416 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.