Flowserve (NYSE:FLS) Sets New 12-Month High – Time to Buy?

Flowserve Co. (NYSE:FLS)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $55.25 and last traded at $55.25, with a volume of 500 shares changing hands. The stock had previously closed at $55.10.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FLS shares. Stifel Nicolaus raised their price objective on Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their target price on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Bank of America reaffirmed a “buy” rating and set a $60.00 target price on shares of Flowserve in a research report on Tuesday, September 24th. Royal Bank of Canada lifted their target price on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price target on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.33.

Flowserve Stock Performance

The stock has a fifty day moving average price of $48.75 and a two-hundred day moving average price of $48.35. The company has a market cap of $7.27 billion, a P/E ratio of 31.13, a PEG ratio of 1.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.63 by $0.10. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Flowserve Co. will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.52%. Flowserve’s payout ratio is 47.46%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLS. Signaturefd LLC grew its position in Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. nVerses Capital LLC purchased a new position in Flowserve during the 2nd quarter worth approximately $34,000. Raleigh Capital Management Inc. grew its position in Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares in the last quarter. GAMMA Investing LLC grew its position in Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 616 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Flowserve during the 2nd quarter worth approximately $70,000. 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.