Flowserve (NYSE:FLS) PT Raised to $61.00 at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price target upped by investment analysts at Stifel Nicolaus from $60.00 to $61.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 11.33% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. TD Cowen upped their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and issued a $60.00 price target on shares of Flowserve in a report on Tuesday, September 24th. Royal Bank of Canada boosted their price objective on Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Robert W. Baird raised their target price on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Flowserve has an average rating of “Moderate Buy” and an average target price of $57.78.

Flowserve Stock Down 0.2 %

Shares of FLS stock opened at $54.79 on Wednesday. The stock’s fifty day moving average price is $49.34 and its 200 day moving average price is $48.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40. Flowserve has a 1-year low of $35.31 and a 1-year high of $55.90. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Flowserve (NYSE:FLS) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. Flowserve’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. On average, research analysts expect that Flowserve will post 2.76 earnings per share for the current fiscal year.

Institutional Trading of Flowserve

A number of institutional investors and hedge funds have recently modified their holdings of FLS. Vanguard Group Inc. boosted its holdings in Flowserve by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after buying an additional 144,704 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after acquiring an additional 663,631 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Flowserve by 4.8% in the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock worth $128,841,000 after acquiring an additional 121,873 shares during the last quarter. Millennium Management LLC increased its position in shares of Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after purchasing an additional 1,596,429 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Flowserve by 3.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock valued at $123,112,000 after purchasing an additional 83,868 shares during the last quarter. Hedge funds and other institutional investors 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.