Stifel Nicolaus Boosts Flowserve (NYSE:FLS) Price Target to $61.00

Flowserve (NYSE:FLS) had its price target boosted by Stifel Nicolaus from $60.00 to $61.00 in a report issued on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Bank of America reissued a “buy” rating and issued a $60.00 price target on shares of Flowserve in a research note on Tuesday, September 24th. Royal Bank of Canada lifted 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 lifted their target price 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. TD Cowen lifted 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. Finally, The Goldman Sachs Group lifted their target price on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Flowserve Stock Performance

FLS opened at $54.51 on Wednesday. The firm has a market capitalization of $7.18 billion, a PE ratio of 30.80, a P/E/G ratio of 1.27 and a beta of 1.39. Flowserve has a 12-month low of $35.31 and a 12-month high of $55.90. The firm has a 50 day moving average of $49.71 and a two-hundred day moving average of $48.64. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $0.52 EPS. On average, analysts anticipate that Flowserve will post 2.76 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.54%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Institutional Trading of Flowserve

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its position 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 buying an additional 370 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Flowserve during the third quarter worth about $27,000. nVerses Capital LLC acquired a new position in shares of Flowserve during the second quarter worth about $34,000. GAMMA Investing LLC grew its position in shares of Flowserve by 166.0% during the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after buying an additional 616 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Flowserve during the second quarter worth about $70,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.