Flowserve (NYSE:FLS) Price Target Increased to $66.00 by Analysts at Robert W. Baird

Flowserve (NYSE:FLS) had its price objective raised by stock analysts at Robert W. Baird from $65.00 to $66.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target indicates a potential upside of 21.91% from the stock’s previous close.

Several other analysts also recently weighed in on FLS. Royal Bank of Canada raised their target price on Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus lifted their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. 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, October 10th. Bank of America reiterated a “buy” rating and issued a $60.00 price target on shares of Flowserve in a research note on Tuesday, September 24th. Finally, TD Cowen lifted their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.10.

Flowserve Trading Up 2.3 %

Shares of FLS opened at $54.14 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $7.13 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The stock’s fifty day simple moving average is $50.47 and its 200 day simple moving average is $48.89. Flowserve has a twelve month low of $35.80 and a twelve month high of $55.90.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Flowserve will post 2.76 earnings per share for the current year.

Institutional Investors Weigh In On Flowserve

A number of hedge funds have recently made changes to their positions in FLS. State of Michigan Retirement System raised its holdings in shares of Flowserve by 2.5% during the first quarter. State of Michigan Retirement System now owns 32,268 shares of the industrial products company’s stock valued at $1,474,000 after buying an additional 800 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Flowserve by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 146,440 shares of the industrial products company’s stock worth $6,689,000 after purchasing an additional 1,600 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Flowserve by 0.3% during the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after purchasing an additional 433 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Flowserve by 20.9% during the first quarter. BNP Paribas Financial Markets now owns 79,494 shares of the industrial products company’s stock worth $3,631,000 after purchasing an additional 13,738 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Flowserve by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 31,471 shares of the industrial products company’s stock worth $1,438,000 after purchasing an additional 2,013 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

About Flowserve

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.