Flowserve (NYSE:FLS) Price Target Raised to $54.00

Flowserve (NYSE:FLS) had its price objective lifted by Stifel Nicolaus from $50.00 to $54.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other research analysts have also weighed in on FLS. StockNews.com raised Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Cowen lifted their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Robert W. Baird lowered their price objective on Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday. Mizuho increased their price objective on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $64.11.

Flowserve Price Performance

Shares of NYSE FLS opened at $47.54 on Thursday. The company’s 50-day moving average is $46.80 and its 200 day moving average is $55.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The stock has a market capitalization of $6.21 billion, a P/E ratio of 22.22, a P/E/G ratio of 1.35 and a beta of 1.21. Flowserve has a 1 year low of $37.34 and a 1 year high of $65.08.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 earnings per share. On average, sell-side analysts expect that Flowserve will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Flowserve by 17.8% during the 3rd quarter. Barclays PLC now owns 229,379 shares of the industrial products company’s stock valued at $11,857,000 after acquiring an additional 34,645 shares during the period. Virtu Financial LLC purchased a new position in Flowserve during the third quarter valued at $227,000. Wilmington Savings Fund Society FSB bought a new stake in Flowserve during the third quarter valued at about $29,000. Franklin Resources Inc. increased its position in Flowserve by 7.8% in the third quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock worth $3,909,000 after buying an additional 5,127 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Flowserve by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock worth $104,000 after buying an additional 290 shares during the period. 93.93% of the stock is currently 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.