The Goldman Sachs Group Boosts Flowserve (NYSE:FLS) Price Target to $52.00

Flowserve (NYSE:FLS) had its price target upped by stock analysts at The Goldman Sachs Group from $46.00 to $52.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 5.66% from the stock’s previous close.

Several other research firms also recently weighed in on FLS. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada upped their target price on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen increased their price objective on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus increased their price target on Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.

Flowserve Stock Up 2.3 %

NYSE FLS opened at $55.12 on Thursday. The business has a fifty day moving average price of $48.75 and a 200 day moving average price of $48.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The company has a market cap of $7.24 billion, a P/E ratio of 28.56, a P/E/G ratio of 1.27 and a beta of 1.39. Flowserve has a one year low of $35.31 and a one year high of $55.17.

Flowserve (NYSE:FLS) last posted its quarterly 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. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Flowserve’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that Flowserve will post 2.76 EPS for the current fiscal year.

Institutional Trading of Flowserve

A number of hedge funds and other institutional investors have recently made changes to their positions in FLS. Moody National Bank Trust Division increased its stake in Flowserve by 2.8% in the first quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 259 shares during the period. Toronto Dominion Bank increased its holdings in shares of Flowserve by 0.7% in the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock valued at $2,127,000 after purchasing an additional 305 shares during the period. Signaturefd LLC raised its stake in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Flowserve by 7.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 426 shares during the period. Finally, Retirement Systems of Alabama grew its position in Flowserve by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock valued at $7,526,000 after buying an additional 433 shares during the last quarter. Institutional investors and hedge funds 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.