Flowserve (NYSE:FLS) Price Target Increased to $61.00 by Analysts at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price target lifted by Stifel Nicolaus from $60.00 to $61.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Bank of America reiterated a “buy” rating and set a $60.00 target price on shares of Flowserve in a research report on Tuesday, September 24th. Royal Bank of Canada lifted their target price on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. TD Cowen lifted their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Flowserve has an average rating of “Moderate Buy” and an average price target of $56.44.

Flowserve Price Performance

NYSE:FLS opened at $54.89 on Wednesday. Flowserve has a 52 week low of $35.31 and a 52 week high of $55.37. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 1.27 and a beta of 1.39. The firm’s 50-day simple moving average is $49.14 and its 200 day simple moving average is $48.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Flowserve will post 2.76 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Institutional Investors Weigh In On Flowserve

Institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC increased its holdings in Flowserve by 1,142.9% in the third quarter. nVerses Capital LLC now owns 8,700 shares of the industrial products company’s stock worth $450,000 after purchasing an additional 8,000 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Flowserve by 2.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 29,245 shares of the industrial products company’s stock valued at $1,512,000 after acquiring an additional 649 shares in the last quarter. Michael S. Ryan Inc. bought a new stake in shares of Flowserve in the 3rd quarter valued at $413,000. Creative Planning lifted its position in shares of Flowserve by 6.9% during the 3rd quarter. Creative Planning now owns 6,879 shares of the industrial products company’s stock valued at $356,000 after acquiring an additional 444 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Flowserve by 68.7% during the third quarter. Exchange Traded Concepts LLC now owns 7,629 shares of the industrial products company’s stock worth $394,000 after acquiring an additional 3,107 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

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.