Flowserve (NYSE:FLS) Price Target Raised to $55.00

Flowserve (NYSE:FLS) had its price objective lifted by Stifel Nicolaus from $53.00 to $55.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the company. Citigroup lifted their target price on Flowserve from $50.00 to $56.00 and gave the company a buy rating in a research report on Monday, April 8th. StockNews.com downgraded shares of Flowserve from a strong-buy rating to a buy rating in a report on Saturday, April 27th. Mizuho increased their target price on shares of 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 lifted their price target on shares of Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. Finally, Robert W. Baird increased their price objective on shares of Flowserve from $50.00 to $57.00 and gave the stock a neutral rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $51.55.

Flowserve Stock Performance

Shares of FLS stock opened at $47.52 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.88. Flowserve has a 52 week low of $32.49 and a 52 week high of $49.35. The company’s 50 day moving average price is $45.45 and its two-hundred day moving average price is $41.57. The company has a market capitalization of $6.26 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.24 and a beta of 1.42.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The business 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 firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. On average, analysts expect that Flowserve will post 2.62 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend 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 presently 47.46%.

Institutional Trading of Flowserve

Several institutional investors and hedge funds have recently bought and sold shares of FLS. Norges Bank bought a new position in shares of Flowserve during the 4th quarter worth approximately $59,261,000. Clearbridge Investments LLC acquired a new stake in Flowserve during the 3rd quarter valued at $29,745,000. Hennessy Advisors Inc. bought a new position in Flowserve during the fourth quarter worth $22,321,000. AQR Capital Management LLC increased its holdings in shares of Flowserve by 270.4% in the third quarter. AQR Capital Management LLC now owns 636,509 shares of the industrial products company’s stock valued at $25,314,000 after purchasing an additional 464,667 shares during the last quarter. Finally, Pantechnicon Advisors LLP bought a new position in shares of Flowserve in the third quarter valued at about $17,976,000. Institutional investors own 93.93% of the company’s stock.

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.