Flowserve (NYSE:FLS) Stock Price Expected to Rise, TD Cowen Analyst Says

Flowserve (NYSE:FLS) had its target price lifted by TD Cowen from $60.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. TD Cowen’s price objective suggests a potential upside of 17.92% from the company’s previous close.

FLS has been the topic of several other reports. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Bank of America boosted their price target on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.10.

Flowserve Stock Performance

NYSE FLS opened at $63.61 on Thursday. 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 has a 1-year low of $39.69 and a 1-year high of $63.86. The firm has a market capitalization of $8.36 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.17 and a beta of 1.42. The business’s 50-day simple moving average is $59.85 and its 200-day simple moving average is $53.47.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Equities analysts predict that Flowserve will post 2.71 EPS for the current year.

Hedge Funds Weigh In On Flowserve

Several large investors have recently modified their holdings of the stock. State Street Corp raised its stake in Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after buying an additional 37,132 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after acquiring an additional 663,631 shares during the last quarter. Earnest Partners LLC raised its position in shares of Flowserve by 4.8% during the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after acquiring an additional 121,873 shares in the last quarter. Millennium Management LLC lifted its stake in Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after purchasing an additional 1,596,429 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after purchasing an additional 44,039 shares during the period. 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.