Flowserve (NYSE:FLS) Given New $55.00 Price Target at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price target increased by analysts at Stifel Nicolaus from $53.00 to $55.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 16.60% from the company’s previous close.

FLS has been the subject of several other reports. Royal Bank of Canada raised their price target on Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Citigroup lifted their target price on Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 8th. Mizuho lifted their target price on Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Bank of America lifted their target price on Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.22.

Flowserve Price Performance

Shares of Flowserve stock opened at $47.17 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. Flowserve has a twelve month low of $32.49 and a twelve month high of $49.35. The business has a 50-day moving average price of $45.14 and a 200 day moving average price of $41.43. The firm has a market cap of $6.19 billion, a PE ratio of 26.65, a P/E/G ratio of 1.34 and a beta of 1.46.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.61% and a net margin of 5.29%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts predict that Flowserve will post 2.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Flowserve in the fourth quarter valued at approximately $59,261,000. Clearbridge Investments LLC acquired a new stake in shares of Flowserve in the third quarter valued at approximately $29,745,000. Hennessy Advisors Inc. acquired a new stake in shares of Flowserve in the fourth quarter valued at approximately $22,321,000. AQR Capital Management LLC increased its stake in shares of Flowserve by 270.4% in the third quarter. AQR Capital Management LLC now owns 636,509 shares of the industrial products company’s stock valued at $25,314,000 after purchasing an additional 464,667 shares during the period. Finally, Pantechnicon Advisors LLP acquired a new stake in shares of Flowserve in the third quarter valued at approximately $17,976,000. Institutional investors own 93.93% of the company’s stock.

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.