Flowserve Co. (NYSE:FLS) Receives $61.30 Consensus Target Price from Brokerages

Shares of Flowserve Co. (NYSE:FLS) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $61.30.

FLS has been the topic of a number of research analyst reports. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. TD Cowen increased their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America upped their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th.

Hedge Funds Weigh In On Flowserve

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in Flowserve by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock worth $3,909,000 after purchasing an additional 5,127 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Flowserve during the third quarter worth $29,000. Sanctuary Advisors LLC raised its position in Flowserve by 35.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,686 shares of the industrial products company’s stock valued at $914,000 after buying an additional 4,670 shares during the last quarter. Virtu Financial LLC bought a new position in Flowserve during the 3rd quarter valued at $227,000. Finally, Toronto Dominion Bank boosted its holdings in Flowserve by 4.4% during the 3rd quarter. Toronto Dominion Bank now owns 27,900 shares of the industrial products company’s stock worth $1,442,000 after acquiring an additional 1,175 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.0 %

FLS opened at $60.71 on Friday. The stock has a market cap of $7.98 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.49 and a beta of 1.38. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve has a twelve month low of $37.34 and a twelve month high of $62.22. The company has a fifty day moving average of $54.98 and a 200-day moving average of $50.54.

Flowserve (NYSE:FLS) last posted its quarterly earnings data 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $0.50 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts predict that Flowserve will post 2.71 EPS for the current year.

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.