Analysts Set Flowserve Co. (NYSE:FLS) Price Target at $64.30

Shares of Flowserve Co. (NYSE:FLS) have been given an average recommendation of “Buy” by the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $64.30.

FLS has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Citigroup reduced their price objective on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Monday, March 17th. Mizuho raised their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, TD Cowen raised their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th.

Hedge Funds Weigh In On Flowserve

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in Flowserve by 0.6% during the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock worth $2,193,000 after purchasing an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its position in Flowserve by 0.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock worth $1,527,000 after purchasing an additional 236 shares in the last quarter. Vontobel Holding Ltd. grew its position in Flowserve by 0.9% during the 1st quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company’s stock worth $1,378,000 after purchasing an additional 238 shares in the last quarter. Savant Capital LLC grew its position in Flowserve by 0.4% during the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after purchasing an additional 251 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Flowserve by 4.8% during the 1st quarter. KBC Group NV now owns 5,676 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 258 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Performance

Shares of FLS opened at $44.64 on Tuesday. The firm has a 50-day moving average price of $47.58 and a 200 day moving average price of $55.28. The firm has a market capitalization of $5.88 billion, a PE ratio of 20.86, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve has a 52-week low of $37.34 and a 52-week high of $65.08.

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

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s payout ratio is 39.25%.

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.