Flowserve (NYSE:FLS) Price Target Raised to $75.00 at TD Cowen

Flowserve (NYSE:FLS) had its price objective increased by TD Cowen from $60.00 to $75.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

FLS has been the topic of several other reports. Stifel Nicolaus upped their price target on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Mizuho increased their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird lifted their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and an average price target of $66.10.

Flowserve Trading Up 3.4 %

Shares of FLS stock opened at $62.76 on Thursday. Flowserve has a 12-month low of $39.37 and a 12-month high of $63.23. The firm has a 50 day moving average price of $59.77 and a two-hundred day moving average price of $53.35. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $8.25 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts predict that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, December 27th. Flowserve’s payout ratio is 41.58%.

Institutional Investors Weigh In On Flowserve

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KPP Advisory Services LLC boosted its position in Flowserve by 3.2% in the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after buying an additional 215 shares in the last quarter. HighTower Advisors LLC grew its position in Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after acquiring an additional 215 shares during the last quarter. National Bank of Canada FI increased its holdings in Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 252 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after purchasing an additional 277 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares in the last quarter. 93.93% of the stock is owned by 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.