Flowserve (NYSE:FLS) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Flowserve (NYSE:FLS) had its target price upped by investment analysts at Royal Bank of Canada from $55.00 to $57.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 5.67% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Mizuho increased their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a 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. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Jefferies Financial Group started coverage on Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Bank of America raised their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. One 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.10.

Flowserve Trading Down 0.4 %

NYSE FLS traded down $0.20 during trading on Wednesday, hitting $53.94. The company had a trading volume of 475,286 shares, compared to its average volume of 1,083,280. The company’s fifty day moving average is $50.60 and its 200-day moving average is $48.94. Flowserve has a one year low of $35.80 and a one year high of $55.90. 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 company has a market cap of $7.10 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Flowserve (NYSE:FLS) last issued 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 return on equity of 16.74% and a net margin of 5.67%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts predict that Flowserve will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On Flowserve

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after purchasing an additional 663,631 shares during the last quarter. Earnest Partners LLC grew its position in Flowserve by 4.8% during the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after buying an additional 121,873 shares during the period. Millennium Management LLC increased its holdings in Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after buying an additional 1,596,429 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Flowserve by 3.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock worth $123,112,000 after acquiring an additional 83,868 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Flowserve by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock worth $108,191,000 after acquiring an additional 169,506 shares during 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.