UBS Group Boosts Flowserve (NYSE:FLS) Price Target to $54.00

Flowserve (NYSE:FLS) had its price target lifted by investment analysts at UBS Group from $46.00 to $54.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. UBS Group’s target price indicates a potential upside of 13.64% from the company’s previous close.

Several other research firms have also issued reports on FLS. Robert W. Baird boosted their target price on shares of Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday. Stifel Nicolaus boosted their target price on shares of Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 27th. Mizuho reiterated a “buy” rating and set a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a report on Wednesday. Finally, Citigroup upped their price objective on shares of Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.55.

Flowserve Trading Up 0.5 %

Shares of NYSE:FLS traded up $0.25 during mid-day trading on Wednesday, reaching $47.52. 964,845 shares of the company’s stock were exchanged, compared to its average volume of 1,116,238. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.25 and a beta of 1.42. The business’s fifty day moving average price is $45.45 and its 200-day moving average price is $41.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.88. Flowserve has a twelve month low of $32.49 and a twelve month high of $49.35.

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, beating the consensus estimate of $0.47 by $0.11. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. Flowserve’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. On average, research analysts predict that Flowserve will post 2.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Flowserve

Several hedge funds and other institutional investors have recently made changes to their positions in FLS. Vanguard Group Inc. grew its position in Flowserve by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after purchasing an additional 144,704 shares in the last quarter. Wellington Management Group LLP grew its position in Flowserve by 2.5% in the 3rd quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after purchasing an additional 246,636 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Flowserve by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock worth $82,595,000 after purchasing an additional 157,125 shares in the last quarter. Norges Bank bought a new stake in Flowserve in the 4th quarter worth about $59,261,000. Finally, Gabelli Funds LLC grew its position in Flowserve by 0.3% in the 3rd quarter. Gabelli Funds LLC now owns 1,296,034 shares of the industrial products company’s stock worth $51,543,000 after purchasing an additional 3,540 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

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.