Flowserve (NYSE:FLS) PT Raised to $55.00 at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price target hoisted by equities researchers at Stifel Nicolaus from $53.00 to $55.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential upside of 15.74% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 27th. Citigroup upped their price objective on Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Mizuho lifted their target price on shares of Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada boosted their target price on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. Finally, Bank of America raised their price target on shares of Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Flowserve has an average rating of “Moderate Buy” and an average price target of $51.55.

Flowserve Price Performance

NYSE FLS traded up $0.25 during trading on Wednesday, hitting $47.52. 964,845 shares of the company’s stock were exchanged, compared to its average volume of 1,116,238. The company has a market cap of $6.26 billion, a PE ratio of 26.85, a P/E/G ratio of 1.25 and a beta of 1.42. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. Flowserve has a fifty-two week low of $32.49 and a fifty-two week high of $49.35. The stock’s 50 day moving average price is $45.45 and its two-hundred day moving average price is $41.57.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts expect that Flowserve will post 2.6 EPS for the current year.

Institutional Trading of Flowserve

A number of large investors have recently bought and sold shares of FLS. Moody National Bank Trust Division boosted its position in shares of Flowserve by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 259 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Flowserve by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company’s stock worth $2,285,000 after buying an additional 290 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Flowserve by 3.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 9,606 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 291 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Flowserve by 6.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,240 shares of the industrial products company’s stock valued at $288,000 after acquiring an additional 409 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in Flowserve by 0.3% during the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after acquiring an additional 433 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.