Flowserve (NYSE:FLS) PT Raised to $57.00 at TD Cowen

Flowserve (NYSE:FLS) had its price target boosted by stock analysts at TD Cowen from $55.00 to $57.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. TD Cowen’s price target points to a potential upside of 17.60% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus boosted their target price on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group increased their target price on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup boosted their price target on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their price objective on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Robert W. Baird increased their target price on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.27.

Flowserve Stock Performance

Shares of Flowserve stock traded down $2.08 on Thursday, reaching $48.47. The stock had a trading volume of 547,500 shares, compared to its average volume of 1,057,599. Flowserve has a fifty-two week low of $35.31 and a fifty-two week high of $52.09. The business’s 50-day moving average price is $48.56 and its two-hundred day moving average price is $46.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.28 and a current ratio of 2.00. The stock has a market cap of $6.37 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. On average, sell-side analysts forecast that Flowserve will post 2.68 EPS for the current year.

Insider Buying and Selling

In related news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the sale, the chief executive officer now owns 407,243 shares in the company, valued at approximately $20,354,005.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Peregrine Capital Management LLC bought a new position in Flowserve in the fourth quarter valued at about $6,031,000. Eaton Financial Holdings Company LLC bought a new position in shares of Flowserve during the fourth quarter valued at $2,169,000. Wakefield Asset Management LLLP bought a new stake in shares of Flowserve in the fourth quarter worth $866,000. RBA Wealth Management LLC acquired a new stake in Flowserve in the first quarter valued at $3,112,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Flowserve in the 1st quarter valued at about $3,808,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.