Flowserve (NYSE:FLS) PT Raised to $47.00 at Morgan Stanley

Flowserve (NYSE:FLS) had its price objective raised by Morgan Stanley from $46.00 to $47.00 in a research note published on Wednesday morning, Stock Target Advisor reports. The firm currently has an underweight rating on the industrial products company’s stock.

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of HANNOVER RUECK/S from a sell rating to a hold rating in a report on Friday, May 17th. Finally, Citigroup set a $12.00 price target on shares of Avaya and gave the company a hold rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $50.08.

Shares of FLS stock opened at $52.79 on Wednesday. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 1.51 and a beta of 1.62. Flowserve has a 1-year low of $35.88 and a 1-year high of $56.86. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 2.17. The business’s 50-day moving average is $50.13.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.07. The business had revenue of $890.05 million for the quarter, compared to analyst estimates of $943.79 million. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. As a group, equities analysts expect that Flowserve will post 2.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 21st were issued a $0.19 dividend. The ex-dividend date was Thursday, June 20th. This represents a $0.76 annualized dividend and a yield of 1.44%. Flowserve’s payout ratio is 43.43%.

In related news, insider John Lenander sold 5,761 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $49.32, for a total value of $284,132.52. Following the transaction, the insider now owns 16,568 shares in the company, valued at $817,133.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.36% of the company’s stock.

Large investors have recently modified their holdings of the business. Valeo Financial Advisors LLC grew its position in Flowserve by 1,211.5% in the second quarter. Valeo Financial Advisors LLC now owns 682 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 630 shares in the last quarter. CSat Investment Advisory L.P. grew its position in Flowserve by 91.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 520 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Flowserve in the fourth quarter valued at approximately $128,000. Bluestein R H & Co. acquired a new stake in Flowserve in the first quarter valued at approximately $203,000. Finally, Synovus Financial Corp grew its position in Flowserve by 16.7% in the first quarter. Synovus Financial Corp now owns 4,558 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 651 shares in the last quarter. 98.52% of the stock is owned by institutional investors.

About Flowserve

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Analyst Recommendations for Flowserve (NYSE:FLS)

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