Stifel Nicolaus Raises Flowserve (NYSE:FLS) Price Target to $61.00

Flowserve (NYSE:FLS) had its price target upped by equities research analysts at Stifel Nicolaus from $60.00 to $61.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 11.82% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird increased their target price on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. TD Cowen raised their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price objective on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Bank of America restated a “buy” rating and issued a $60.00 target price on shares of Flowserve in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group lifted their price target on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.44.

Flowserve Stock Up 1.6 %

FLS traded up $0.86 during midday trading on Wednesday, hitting $54.55. The company had a trading volume of 121,248 shares, compared to its average volume of 1,072,021. The stock’s 50 day moving average price is $48.96 and its 200 day moving average price is $48.42. Flowserve has a 52 week low of $35.31 and a 52 week high of $55.37. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 1.27 and a beta of 1.39. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, research analysts anticipate that Flowserve will post 2.76 earnings per share for the current fiscal year.

Institutional Trading of Flowserve

A number of institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its position in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Flowserve during the 2nd quarter worth $34,000. GAMMA Investing LLC boosted its holdings in shares of Flowserve by 166.0% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after buying an additional 616 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Flowserve during the second quarter valued at about $70,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Flowserve during the first quarter worth about $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.