Flowserve (NYSE:FLS) Receives “Buy” Rating from Mizuho

Flowserve (NYSE:FLS)‘s stock had its “buy” rating reiterated by Mizuho in a note issued to investors on Wednesday, Benzinga reports. They currently have a $53.00 price objective on the industrial products company’s stock, up from their previous price objective of $50.00. Mizuho’s price objective would indicate a potential upside of 11.53% from the company’s previous close.

Several other research firms have also issued reports on FLS. Citigroup boosted their target price on shares of Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 8th. Robert W. Baird raised their target price on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 27th. Royal Bank of Canada lifted their price objective on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus increased their target price on shares of Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Flowserve Trading Up 0.5 %

NYSE:FLS traded up $0.25 during trading hours on Wednesday, hitting $47.52. 964,845 shares of the company were exchanged, compared to its average volume of 1,116,238. The company has a fifty day simple moving average of $45.45 and a 200 day simple moving average of $41.57. Flowserve has a one year low of $32.49 and a one year high of $49.35. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth 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 (NYSE:FLS) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Sell-side analysts expect that Flowserve will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FLS. Moody National Bank Trust Division lifted its stake in 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 acquiring an additional 259 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Flowserve by 0.5% in 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 purchasing an additional 290 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in 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 buying an additional 291 shares during 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 worth $288,000 after buying an additional 409 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Flowserve by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after buying an additional 433 shares during the last quarter. 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.