Flowserve (NYSE:FLS) PT Raised to $57.00

Flowserve (NYSE:FLS) had its price objective lifted by research analysts at Bank of America from $48.00 to $57.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective suggests a potential upside of 20.63% from the stock’s previous close.

FLS has been the topic of a number of other research reports. Stifel Nicolaus boosted their price target on shares of Flowserve from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Mizuho increased their price target on Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Royal Bank of Canada upped their target price on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. Citigroup raised their target price on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Robert W. Baird boosted their price target on Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and a consensus price target of $51.20.

Flowserve Stock Performance

Shares of Flowserve stock opened at $47.25 on Tuesday. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 1.34 and a beta of 1.46. Flowserve has a twelve month low of $32.49 and a twelve month high of $49.35. The company’s fifty day moving average is $45.24 and its 200 day moving average is $41.47. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59.

Flowserve (NYSE:FLS) last announced 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 firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Flowserve had a return on equity of 15.61% and a net margin of 5.29%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. Sell-side analysts forecast that Flowserve will post 2.55 EPS for the current year.

Institutional Trading of Flowserve

A number of hedge funds and other institutional investors have recently bought and sold shares of FLS. Janney Montgomery Scott LLC grew its holdings in shares of Flowserve by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 31,471 shares of the industrial products company’s stock valued at $1,438,000 after buying an additional 2,013 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Flowserve by 20.9% during the 1st quarter. BNP Paribas Financial Markets now owns 79,494 shares of the industrial products company’s stock valued at $3,631,000 after purchasing an additional 13,738 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Flowserve by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock valued at $7,526,000 after purchasing an additional 433 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Flowserve by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 493,996 shares of the industrial products company’s stock worth $22,566,000 after purchasing an additional 12,301 shares in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Flowserve in the first quarter worth approximately $36,000. Institutional investors own 93.93% of the company’s stock.

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.