Flowserve (NYSE:FLS) Price Target Raised to $77.00

Flowserve (NYSE:FLS) had its price target boosted by Stifel Nicolaus from $75.00 to $77.00 in a research report released on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Several other research firms have also recently issued reports on FLS. Bank of America boosted 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. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Royal Bank of Canada reduced their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday. TD Cowen upped their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Trading Down 2.6 %

NYSE:FLS opened at $57.47 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $60.68 and its 200-day simple moving average is $55.70. Flowserve has a 12-month low of $41.60 and a 12-month high of $65.08. The firm has a market cap of $7.55 billion, a P/E ratio of 26.86, a PEG ratio of 1.28 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 17.11% and a net margin of 6.20%. Equities analysts anticipate that Flowserve will post 3.21 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.46%. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

Institutional Trading of Flowserve

Several institutional investors and hedge funds have recently modified their holdings of FLS. True Wealth Design LLC purchased a new position in shares of Flowserve during the 3rd quarter worth approximately $25,000. Headlands Technologies LLC lifted its stake in Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after buying an additional 479 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Flowserve during the 3rd quarter valued at $29,000. Wilmington Savings Fund Society FSB purchased a new position in Flowserve during the third quarter worth $29,000. Finally, Allworth Financial LP raised its holdings in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 403 shares during the last quarter. Hedge funds and other 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.