Mizuho Raises Flowserve (NYSE:FLS) Price Target to $70.00

Flowserve (NYSE:FLS) had its price target upped by Mizuho from $65.00 to $70.00 in a report issued on Thursday,Benzinga reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on FLS. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Royal Bank of Canada decreased their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Citigroup lowered their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, TD Cowen upped their price target on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Price Performance

FLS stock opened at $55.38 on Thursday. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 1.35 and a beta of 1.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The company has a 50 day simple moving average of $60.57 and a 200 day simple moving average of $55.85. Flowserve has a 1 year low of $41.60 and a 1 year high of $65.08.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Research analysts anticipate that Flowserve will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.52%. Flowserve’s payout ratio is 39.25%.

Institutional Investors Weigh In On Flowserve

A number of hedge funds have recently added to or reduced their stakes in FLS. Sunbelt Securities Inc. grew its position in shares of Flowserve by 1,577.1% during the 4th quarter. Sunbelt Securities Inc. now owns 1,392 shares of the industrial products company’s stock worth $80,000 after buying an additional 1,309 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in Flowserve in the fourth quarter worth $208,000. PharVision Advisers LLC bought a new stake in Flowserve in the fourth quarter valued at $207,000. Delta Investment Management LLC increased its stake in Flowserve by 10.0% in the fourth quarter. Delta Investment Management LLC now owns 7,420 shares of the industrial products company’s stock valued at $427,000 after purchasing an additional 676 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Flowserve by 62.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 599,483 shares of the industrial products company’s stock valued at $34,482,000 after purchasing an additional 231,397 shares during the period. 93.93% of the stock is currently owned by institutional investors.

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.