Flowserve (NYSE:FLS) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Flowserve (NYSE:FLS) had its target price upped by research analysts at Stifel Nicolaus from $72.00 to $75.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 17.08% from the stock’s previous close.

A number of other analysts have also recently weighed in on FLS. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Mizuho increased their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Finally, Robert W. Baird raised their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Flowserve Trading Down 0.4 %

Shares of FLS opened at $64.06 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve has a 52-week low of $39.69 and a 52-week high of $65.08. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.31 and a beta of 1.42. The business’s fifty day moving average is $60.27 and its 200-day moving average is $54.11.

Flowserve (NYSE:FLS) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business 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 business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. Equities analysts anticipate that Flowserve will post 2.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently modified their holdings of the company. True Wealth Design LLC acquired a new position in Flowserve in the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new position in shares of Flowserve in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Flowserve during the 3rd quarter valued at about $29,000. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve during the third quarter worth approximately $29,000. Finally, Allworth Financial LP grew its stake in Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 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.