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

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

Several other equities analysts have also commented on FLS. TD Cowen increased their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and increased their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, Citigroup reduced their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $67.50.

Flowserve Price Performance

Shares of NYSE:FLS traded down $0.22 on Friday, hitting $64.10. The company’s stock had a trading volume of 139,582 shares, compared to its average volume of 1,181,705. The company has a 50-day simple moving average of $60.07 and a 200 day simple moving average of $53.87. Flowserve has a 1 year low of $39.69 and a 1 year high of $65.08. The company has a market capitalization of $8.42 billion, a PE ratio of 31.74, a PEG ratio of 1.31 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business earned $0.50 EPS. The business’s revenue was up 3.5% on a year-over-year basis. Sell-side analysts forecast that Flowserve will post 2.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Flowserve

A number of large investors have recently made changes to their positions in FLS. Millennium Management LLC lifted its stake in shares of Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares during the period. AQR Capital Management LLC raised its stake in Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after buying an additional 663,631 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after buying an additional 606,416 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after buying an additional 422,141 shares during the last quarter. Finally, FMR LLC raised its stake in Flowserve by 15.6% during the third quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock valued at $46,170,000 after buying an additional 120,396 shares during the last quarter. 93.93% of the stock is currently 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.