Flowserve (NYSE:FLS) PT Raised to $53.00

Flowserve (NYSE:FLS) had its price objective raised by analysts at Stifel Nicolaus from $51.00 to $53.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 15.72% from the company’s previous close.

A number of other equities analysts have also recently weighed in on FLS. StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada lifted their price target on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Mizuho lifted their price target on shares of Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Citigroup lifted their price target on shares of Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Robert W. Baird raised their price objective on shares of Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.25.

Flowserve Price Performance

Shares of NYSE FLS traded down $0.58 during mid-day trading on Wednesday, hitting $45.80. 645,288 shares of the stock were exchanged, compared to its average volume of 1,082,103. Flowserve has a twelve month low of $32.05 and a twelve month high of $48.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.27 and a current ratio of 1.88. The stock’s fifty day simple moving average is $44.26 and its two-hundred day simple moving average is $40.86. The company has a market cap of $6.01 billion, a P/E ratio of 32.38, a PEG ratio of 1.32 and a beta of 1.46.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. Flowserve’s revenue was up 12.2% compared to the same quarter last year. As a group, analysts forecast that Flowserve will post 2.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new position in shares of Flowserve during the 4th quarter worth approximately $26,000. First Manhattan CO. LLC. grew its position in shares of Flowserve by 682.6% during the 1st quarter. First Manhattan CO. LLC. now owns 900 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 785 shares in the last quarter. Raleigh Capital Management Inc. grew its position in shares of Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares in the last quarter. Quarry LP acquired a new position in shares of Flowserve during the 1st quarter worth approximately $38,000. Finally, Harbour Investments Inc. grew its position in shares of Flowserve by 79.5% during the 4th quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds 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.