Flowserve (NYSE:FLS) Price Target Lowered to $50.00 at Stifel Nicolaus

Flowserve (NYSE:FLS) had its target price cut by investment analysts at Stifel Nicolaus from $77.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 16.18% from the company’s previous close.

Several other analysts also recently weighed in on FLS. Mizuho lifted their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. TD Cowen increased their price target on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Citigroup decreased their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price on the stock in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.90.

Flowserve Trading Up 1.8 %

Shares of FLS stock traded up $0.76 during trading hours on Monday, reaching $43.04. 67,461 shares of the stock were exchanged, compared to its average volume of 1,236,666. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve has a 12-month low of $37.34 and a 12-month high of $65.08. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company’s 50-day moving average price is $51.93 and its 200-day moving average price is $56.08.

Flowserve (NYSE:FLS) last released 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 net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities analysts anticipate that Flowserve will post 3.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FLS. Arizona State Retirement System raised its position in shares of Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after purchasing an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Flowserve by 0.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock worth $1,527,000 after buying an additional 236 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after buying an additional 251 shares during the period. National Bank of Canada FI grew its holdings in shares of Flowserve by 4.1% during the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after buying an additional 252 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Flowserve by 34.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 275 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

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.