TD Cowen Boosts Flowserve (NYSE:FLS) Price Target to $55.00

Flowserve (NYSE:FLS) had its price target lifted by TD Cowen from $50.00 to $55.00 in a research note published on Thursday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on FLS. Mizuho reiterated a buy rating and set a $53.00 price target (up from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their price objective 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. UBS Group raised their target price on shares of Flowserve from $46.00 to $54.00 and gave the company a buy rating in a report on Wednesday, May 1st. Citigroup increased their price target on shares of Flowserve from $56.00 to $59.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus lifted their price objective on Flowserve from $53.00 to $55.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Flowserve presently has an average rating of Moderate Buy and a consensus price target of $51.55.

Flowserve Stock Performance

NYSE FLS opened at $47.52 on Thursday. The business’s 50 day moving average is $45.45 and its two-hundred day moving average is $41.61. Flowserve has a 12-month low of $32.49 and a 12-month high of $49.35. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.25 and a beta of 1.42. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Research analysts expect that Flowserve will post 2.62 EPS for the current year.

Flowserve Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. Flowserve’s dividend payout ratio is 47.46%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FLS. Contravisory Investment Management Inc. acquired a new stake in shares of Flowserve in the fourth quarter valued at about $26,000. YHB Investment Advisors Inc. purchased a new position in Flowserve in the 1st quarter worth approximately $36,000. Raleigh Capital Management Inc. grew its position in Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 596 shares in the last quarter. TFO Wealth Partners LLC raised its stake in shares of Flowserve by 14,663.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Flowserve during the first quarter worth $87,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.