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

Shares of Flowserve Co. (NYSE:FLS) have been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $56.33.

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price objective on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their target price on shares of Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada increased their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st.

Flowserve Stock Performance

Shares of Flowserve stock opened at $53.86 on Friday. The firm has a fifty day moving average of $48.58 and a two-hundred day moving average of $48.25. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 1.16 and a beta of 1.39. 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.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Flowserve will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.56%. Flowserve’s dividend payout ratio is 47.46%.

Institutional Trading of Flowserve

Several large investors have recently made changes to their positions in FLS. Signaturefd LLC boosted its position in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after buying an additional 370 shares in the last quarter. nVerses Capital LLC acquired a new stake in Flowserve in the second quarter valued at approximately $34,000. YHB Investment Advisors Inc. acquired a new stake in Flowserve in the first quarter valued at approximately $36,000. GAMMA Investing LLC boosted its position in 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 in the last quarter. Finally, Raleigh Capital Management Inc. boosted its position 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. Institutional investors and hedge funds 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.