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

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

A number of other equities research analysts have also recently weighed in on FLS. Royal Bank of Canada decreased their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Citigroup decreased their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Mizuho upped their price objective on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, TD Cowen upped their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Trading Down 3.5 %

Flowserve stock traded down $2.07 during mid-day trading on Thursday, hitting $56.93. The company’s stock had a trading volume of 704,807 shares, compared to its average volume of 1,297,800. The company has a 50 day moving average of $60.75 and a 200-day 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. 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 one year low of $41.60 and a one year high of $65.08.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). The business 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 17.11%. On average, research analysts anticipate that Flowserve will post 3.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. increased its holdings in shares of Flowserve by 1,577.1% in the fourth quarter. Sunbelt Securities Inc. now owns 1,392 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 1,309 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in shares of Flowserve in the fourth quarter valued at about $208,000. PharVision Advisers LLC acquired a new position in shares of Flowserve in the fourth quarter valued at about $207,000. Delta Investment Management LLC increased its holdings in shares of Flowserve by 10.0% in the fourth quarter. Delta Investment Management LLC now owns 7,420 shares of the industrial products company’s stock valued at $427,000 after purchasing an additional 676 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Flowserve by 62.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 599,483 shares of the industrial products company’s stock valued at $34,482,000 after purchasing an additional 231,397 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Company Profile

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.