Flowserve (NYSE:FLS) Upgraded by Robert W. Baird to “Outperform” Rating

Flowserve (NYSE:FLS) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm currently has a $71.00 target price on the industrial products company’s stock. Robert W. Baird’s target price would suggest a potential upside of 44.91% from the company’s current price.

FLS has been the subject of several other research reports. StockNews.com downgraded Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada reduced their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Mizuho raised their price objective on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Citigroup dropped their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Stock Performance

NYSE FLS opened at $49.00 on Monday. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 1.35 and a beta of 1.43. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve has a twelve month low of $43.66 and a twelve month high of $65.08. The stock has a fifty day simple moving average of $58.36 and a 200 day simple moving average of $56.30.

Flowserve (NYSE:FLS) last posted its quarterly earnings data 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 firm had revenue of $1.18 billion during 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 17.08%. Sell-side analysts expect that Flowserve will post 3.18 EPS for the current year.

Institutional Investors Weigh In On Flowserve

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC bought a new position in shares of Flowserve in the 3rd quarter worth $25,000. Headlands Technologies LLC lifted its stake in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Flowserve during the third quarter worth about $29,000. Park Square Financial Group LLC purchased a new position in shares of Flowserve in the 4th quarter worth about $33,000. Finally, Colonial Trust Co SC boosted its stake in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after buying an additional 478 shares in 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.