TD Cowen Raises Flowserve (NYSE:FLS) Price Target to $75.00

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

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price objective for the company. Mizuho lifted their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Finally, Bank of America lifted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.10.

Flowserve Stock Up 1.4 %

Shares of Flowserve stock opened at $63.61 on Thursday. Flowserve has a twelve month low of $39.69 and a twelve month high of $63.86. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 1.17 and a beta of 1.42. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. 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 issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned $0.50 earnings per share. Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts forecast that Flowserve will post 2.71 earnings per share 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 business. True Wealth Design LLC acquired a new position in shares of Flowserve in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new stake in Flowserve during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new position in Flowserve in the third quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Flowserve in the third quarter valued at $29,000. Finally, Allworth Financial LP lifted its position in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 403 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.