Brokerages Set Flowserve Co. (NYSE:FLS) Target Price at $56.88

by · The Cerbat Gem

Flowserve Co. (NYSE:FLS – Get Free Report) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $56.88.

A number of equities research analysts recently commented on the company. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Bank of America restated a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research note on Tuesday, September 24th. Robert W. Baird upped their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on shares of Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their target price on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st.

Read Our Latest Stock Report on Flowserve

Institutional Investors Weigh In On Flowserve

A number of institutional investors have recently made changes to their positions in FLS. Signaturefd LLC boosted its position in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Flowserve in the 2nd quarter valued at approximately $34,000. YHB Investment Advisors Inc. bought a new stake in Flowserve during the 1st quarter worth approximately $36,000. Raleigh Capital Management Inc. lifted its stake in Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after buying an additional 596 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after buying an additional 616 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Down 2.3 %

Shares of NYSE FLS opened at $53.34 on Friday. Flowserve has a 52-week low of $35.31 and a 52-week high of $54.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The business has a fifty day moving average of $48.41 and a two-hundred day moving average of $48.17. The stock has a market cap of $7.02 billion, a PE ratio of 30.14, a PEG ratio of 1.16 and a beta of 1.39.

Flowserve (NYSE:FLS – Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. As a group, equities research analysts expect that Flowserve will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

About Flowserve

(Get Free Report

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.

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