Flowserve (NYSE:FLS) Price Target Raised to $77.00

Flowserve (NYSE:FLS) had its price objective increased by Stifel Nicolaus from $75.00 to $77.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Bank of America increased their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Citigroup dropped their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. TD Cowen increased their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird raised their target price on shares of Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Price Performance

Shares of FLS stock opened at $55.38 on Thursday. 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 company has a market capitalization of $7.28 billion, a P/E ratio of 25.88, a P/E/G ratio of 1.35 and a beta of 1.42. The company’s 50-day simple moving average is $60.57 and its two-hundred day simple moving average is $55.85. Flowserve has a one year low of $41.60 and a one year high of $65.08.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities analysts anticipate that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.52%. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. raised its holdings in shares of Flowserve by 1,577.1% in the fourth quarter. Sunbelt Securities Inc. now owns 1,392 shares of the industrial products company’s stock worth $80,000 after buying an additional 1,309 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Flowserve in the fourth quarter worth $208,000. PharVision Advisers LLC purchased a new position in shares of Flowserve in the fourth quarter worth $207,000. Delta Investment Management LLC raised its holdings in shares of Flowserve by 10.0% in the fourth quarter. Delta Investment Management LLC now owns 7,420 shares of the industrial products company’s stock worth $427,000 after buying an additional 676 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Flowserve by 62.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 599,483 shares of the industrial products company’s stock worth $34,482,000 after buying an additional 231,397 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.