Flowserve (NYSE:FLS) Price Target Increased to $55.00 by Analysts at TD Cowen

Flowserve (NYSE:FLS) had its price target hoisted by investment analysts at TD Cowen from $50.00 to $55.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. TD Cowen’s target price indicates a potential upside of 15.64% from the stock’s previous close.

Several other analysts have also issued reports on FLS. Stifel Nicolaus upped their target price on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America upped their price objective on Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 27th. Robert W. Baird upped their price objective on Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Royal Bank of Canada upped their price objective on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Flowserve Stock Up 0.7 %

Shares of Flowserve stock traded up $0.33 during trading on Thursday, reaching $47.56. The stock had a trading volume of 823,274 shares, compared to its average volume of 1,110,773. Flowserve has a 52 week low of $32.49 and a 52 week high of $49.35. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.33 and a beta of 1.42. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $45.24 and a two-hundred day moving average price of $41.47.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Flowserve’s revenue was up 10.9% on a year-over-year basis. Sell-side analysts predict that Flowserve will post 2.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Flowserve

A number of large investors have recently added to or reduced their stakes in FLS. Commonwealth Equity Services LLC grew its position in Flowserve by 92.6% during the third quarter. Commonwealth Equity Services LLC now owns 15,667 shares of the industrial products company’s stock worth $623,000 after buying an additional 7,533 shares in the last quarter. Raymond James & Associates grew its position in Flowserve by 9.7% during the third quarter. Raymond James & Associates now owns 431,223 shares of the industrial products company’s stock worth $17,150,000 after buying an additional 38,242 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Flowserve during the third quarter worth $2,053,000. Brown Advisory Inc. lifted its stake in Flowserve by 2.7% during the third quarter. Brown Advisory Inc. now owns 1,141,486 shares of the industrial products company’s stock worth $45,397,000 after purchasing an additional 29,810 shares during the last quarter. Finally, Veracity Capital LLC bought a new stake in Flowserve during the third quarter worth $773,000. Institutional investors and hedge funds 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.