Stifel Nicolaus Increases Flowserve (NYSE:FLS) Price Target to $53.00

Flowserve (NYSE:FLS) had its target price increased by stock analysts at Stifel Nicolaus from $51.00 to $53.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 16.15% from the company’s current price.

Several other brokerages have also recently commented on FLS. Citigroup boosted their price target on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Robert W. Baird boosted their price objective on Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Mizuho boosted their price objective on Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Royal Bank of Canada boosted their price objective on Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. Finally, StockNews.com raised Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.25.

Flowserve Stock Down 0.1 %

Flowserve stock opened at $45.63 on Wednesday. The stock has a market capitalization of $5.99 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.46. Flowserve has a 12 month low of $32.05 and a 12 month high of $48.31. The business has a 50 day simple moving average of $44.43 and a 200-day simple moving average of $40.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts anticipate that Flowserve will post 2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Several large investors have recently modified their holdings of the business. State of Michigan Retirement System lifted its stake in shares of Flowserve by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 32,268 shares of the industrial products company’s stock valued at $1,474,000 after purchasing an additional 800 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Flowserve in the 1st quarter valued at $545,000. Diversified Trust Co lifted its stake in shares of Flowserve by 14.5% in the 1st quarter. Diversified Trust Co now owns 90,267 shares of the industrial products company’s stock valued at $4,123,000 after purchasing an additional 11,456 shares during the last quarter. Dumont & Blake Investment Advisors LLC acquired a new position in Flowserve during the 1st quarter worth about $456,000. Finally, First Bank & Trust acquired a new position in Flowserve during the 1st quarter worth about $211,000. Institutional investors and hedge funds 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.