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

Flowserve (NYSE:FLS) had its target price lifted by Stifel Nicolaus from $72.00 to $75.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 17.08% from the company’s previous close.

A number of other research analysts also recently commented on FLS. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Citigroup cut their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, Robert W. Baird raised their price target on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Two 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.50.

Flowserve Trading Down 0.4 %

Flowserve stock opened at $64.06 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The firm has a 50-day moving average of $60.27 and a 200-day moving average of $54.11. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.31 and a beta of 1.42. Flowserve has a one year low of $39.69 and a one year high of $65.08.

Flowserve (NYSE:FLS) last posted 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). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, equities analysts expect that Flowserve will post 2.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

A number of hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after purchasing an additional 37,132 shares in the last quarter. AQR Capital Management LLC increased its stake in Flowserve by 31.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after acquiring an additional 663,631 shares during the period. Millennium Management LLC lifted its position in shares of Flowserve by 155.2% during 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 acquiring an additional 1,596,429 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Flowserve by 1.7% during the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Flowserve by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock worth $113,851,000 after purchasing an additional 23,529 shares during the period. 93.93% of the stock is 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.