Flowserve (NYSE:FLS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flowserve (NYSE:FLS) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently weighed in on FLS. Robert W. Baird set a $93.00 price objective on shares of Flowserve in a research report on Friday, July 31st. Mizuho dropped their target price on Flowserve from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. The Goldman Sachs Group set a $82.00 target price on Flowserve in a research report on Thursday, July 30th. Royal Bank Of Canada lifted their price target on Flowserve from $88.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Weiss Ratings raised Flowserve from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Flowserve Price Performance

NYSE:FLS opened at $80.32 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. The company has a 50 day moving average price of $74.32 and a 200-day moving average price of $76.45. Flowserve has a 1-year low of $63.27 and a 1-year high of $92.41.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, October 28th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.09. Flowserve had a net margin of 5.42% and a return on equity of 22.37%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the business posted $0.90 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Flowserve will post 4.12 EPS for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, September 25th. Flowserve’s dividend payout ratio is 44.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLS. Kestra Advisory Services LLC boosted its holdings in Flowserve by 30.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 4,339 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 1,016 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Flowserve by 31.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 60,072 shares of the industrial products company’s stock valued at $4,392,000 after buying an additional 14,505 shares during the period. Vise Technologies Inc. purchased a new stake in shares of Flowserve in the 3rd quarter valued at approximately $269,000. MGO One Seven LLC purchased a new stake in shares of Flowserve in the 3rd quarter valued at approximately $277,000. Finally, Partners Wealth Management LLC acquired a new stake in shares of Flowserve during the 3rd quarter worth approximately $229,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Company Profile

Flowserve Corporation is a global manufacturer of flow-control equipment and related services. The company designs, produces and services pumps, valves, mechanical seals and associated systems used to move, control and protect fluids in industrial processes.

Its products and services support applications across the energy, chemical and petrochemical, water, pharmaceutical, mining, power and general industrial markets. Flowserve also provides aftermarket services, including equipment repair, maintenance, upgrades and replacement parts, helping customers improve the reliability and efficiency of their operations.

Headquartered in Irving, Texas, Flowserve serves customers through manufacturing, sales and service operations in North America, Europe, Asia and other international markets.