Mizuho Reiterates “Buy” Rating for Flowserve (NYSE:FLS)

Flowserve (NYSE:FLS)‘s stock had its “buy” rating restated by investment analysts at Mizuho in a report released on Wednesday, Benzinga reports. They presently have a $53.00 price objective on the industrial products company’s stock, up from their prior price objective of $50.00. Mizuho’s price target indicates a potential upside of 11.79% from the stock’s previous close.

A number of other equities analysts have also recently commented on FLS. Bank of America lifted their price target on Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada upped their target price on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus upped their target price on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird boosted their price target on Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.56.

Flowserve Stock Up 0.5 %

Shares of NYSE FLS traded up $0.25 during mid-day trading on Wednesday, hitting $47.41. The company had a trading volume of 220,973 shares, compared to its average volume of 1,078,124. The company has a market capitalization of $6.22 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46. The firm has a 50-day simple moving average of $45.14 and a two-hundred day simple moving average of $41.43. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. Flowserve has a one year low of $32.49 and a one year high of $49.35.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.61% and a net margin of 5.29%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company posted $0.40 earnings per share. Flowserve’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts expect that Flowserve will post 2.55 EPS for the current year.

Institutional Trading of Flowserve

A number of institutional investors and hedge funds have recently bought and sold shares of FLS. Moody National Bank Trust Division grew its holdings in Flowserve by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock worth $434,000 after acquiring an additional 259 shares during the period. Treasurer of the State of North Carolina grew its holdings in Flowserve by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company’s stock worth $2,285,000 after acquiring an additional 290 shares during the period. Verdence Capital Advisors LLC grew its holdings in Flowserve by 3.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,606 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 291 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Flowserve by 6.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,240 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 409 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Flowserve by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after acquiring an additional 433 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.