Flowserve (NYSE:FLS) Price Target Raised to $75.00 at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price target raised by analysts at Stifel Nicolaus from $72.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 17.00% from the stock’s current price.

FLS has been the topic of a number of other reports. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Citigroup dropped their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Finally, Bank of America upped their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Flowserve Trading Down 0.3 %

Shares of FLS stock traded down $0.22 during mid-day trading on Friday, reaching $64.10. 139,582 shares of the stock traded hands, compared to its average volume of 1,181,705. The stock’s fifty day simple moving average is $60.07 and its two-hundred day simple moving average is $53.87. Flowserve has a 1-year low of $39.69 and a 1-year high of $65.08. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 1.31 and a beta of 1.42. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. Flowserve’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, research analysts anticipate that Flowserve will post 2.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp grew its stake in Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after purchasing an additional 37,132 shares during the period. Vestcor Inc bought a new position in shares of Flowserve during the 3rd quarter worth $714,000. Stifel Financial Corp grew its stake in shares of Flowserve by 14.0% during the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock worth $12,619,000 after acquiring an additional 29,979 shares during the period. Millennium Management LLC grew its stake in shares of Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after acquiring an additional 1,596,429 shares during the period. Finally, Algert Global LLC grew its stake in shares of Flowserve by 130.3% during the 3rd quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock worth $5,638,000 after acquiring an additional 61,710 shares during the period. 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.