TD Cowen Boosts Flowserve (NYSE:FLS) Price Target to $75.00

Flowserve (NYSE:FLS) had its price objective boosted by TD Cowen from $60.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. TD Cowen’s target price points to a potential upside of 19.18% from the company’s current price.

FLS has been the subject of a number of other reports. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Mizuho lifted their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, Robert W. Baird boosted their price objective on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.10.

Flowserve Stock Up 3.7 %

NYSE FLS traded up $2.25 during trading on Thursday, reaching $62.93. 1,311,162 shares of the company’s stock were exchanged, compared to its average volume of 1,189,664. Flowserve has a fifty-two week low of $39.37 and a fifty-two week high of $63.21. The firm has a market capitalization of $8.27 billion, a PE ratio of 31.15, a P/E/G ratio of 1.17 and a beta of 1.42. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $59.69 and its 200-day simple moving average is $53.29.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business posted $0.50 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. Sell-side analysts predict that Flowserve will post 2.71 EPS for the current year.

Institutional Investors Weigh In On Flowserve

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KPP Advisory Services LLC increased its holdings in Flowserve by 3.2% in the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after purchasing an additional 215 shares during the last quarter. HighTower Advisors LLC grew its stake in Flowserve by 0.6% in the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after acquiring an additional 215 shares during the period. National Bank of Canada FI grew its stake in Flowserve by 4.1% in the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 252 shares during the period. PNC Financial Services Group Inc. grew its stake in Flowserve by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after acquiring an additional 277 shares during the period. Finally, GAMMA Investing LLC grew its stake in Flowserve by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 290 shares during the period. Institutional investors 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.