Flowserve (NYSE:FLS) Given New $77.00 Price Target at Stifel Nicolaus

Flowserve (NYSE:FLS) had its target price upped by investment analysts at Stifel Nicolaus from $75.00 to $77.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 35.24% from the company’s previous close.

A number of other analysts have also commented on FLS. Mizuho raised their price target on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada dropped their price target on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday. Robert W. Baird raised their price target on Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America raised their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Price Performance

NYSE FLS traded down $2.07 on Thursday, reaching $56.93. 704,807 shares of the company’s stock traded hands, compared to its average volume of 1,297,800. Flowserve has a 12 month low of $41.60 and a 12 month high of $65.08. 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 stock has a 50-day simple moving average of $60.75 and a 200 day simple moving average of $55.69. The stock has a market cap of $7.48 billion, a PE ratio of 26.60, a P/E/G ratio of 1.28 and a beta of 1.42.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.11%. As a group, research analysts predict that Flowserve will post 3.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Flowserve by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company’s stock valued at $775,209,000 after buying an additional 101,668 shares in the last quarter. FIL Ltd increased its stake in Flowserve by 71.7% in the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock worth $302,271,000 after acquiring an additional 2,193,904 shares during the last quarter. State Street Corp increased its stake in Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after acquiring an additional 37,132 shares during the last quarter. AQR Capital Management LLC increased its stake in Flowserve by 9.7% in the 4th quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company’s stock worth $168,272,000 after acquiring an additional 258,361 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position 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 valued at $134,577,000 after purchasing an additional 44,039 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other 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.