Flowserve (NYSE:FLS) Price Target Raised to $55.00 at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price objective hoisted by Stifel Nicolaus from $53.00 to $55.00 in a research note released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on FLS. Royal Bank of Canada increased their target price on shares of Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a report on Thursday, February 22nd. StockNews.com downgraded Flowserve from a strong-buy rating to a buy rating in a research note on Saturday, April 27th. Mizuho boosted their target price on Flowserve from $48.00 to $50.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Robert W. Baird increased their price target on Flowserve from $50.00 to $57.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Bank of America lifted their price objective on Flowserve from $48.00 to $57.00 and gave the company a buy rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $51.20.

Flowserve Trading Up 0.2 %

NYSE FLS opened at $47.25 on Wednesday. Flowserve has a 12 month low of $32.49 and a 12 month high of $49.35. The stock has a 50-day simple moving average of $45.24 and a 200 day simple moving average of $41.47. 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 company has a market capitalization of $6.22 billion, a PE ratio of 26.70, a P/E/G ratio of 1.33 and a beta of 1.42.

Flowserve (NYSE:FLS) last posted 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. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. Research analysts forecast that Flowserve will post 2.57 EPS for the current year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.21 dividend. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a yield of 1.78%. Flowserve’s payout ratio is presently 47.46%.

Institutional Trading of Flowserve

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Flowserve during the fourth quarter worth about $59,261,000. Clearbridge Investments LLC acquired a new stake in shares of Flowserve in the 3rd quarter valued at approximately $29,745,000. Hennessy Advisors Inc. bought a new position in shares of Flowserve in the fourth quarter valued at $22,321,000. AQR Capital Management LLC grew its stake in shares of Flowserve by 270.4% in the third quarter. AQR Capital Management LLC now owns 636,509 shares of the industrial products company’s stock valued at $25,314,000 after buying an additional 464,667 shares in the last quarter. Finally, Pantechnicon Advisors LLP acquired a new position in Flowserve during the third quarter worth $17,976,000. Institutional investors own 93.93% of the company’s stock.

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.