Flowserve Co. (NYSE:FLS) Receives $56.11 Average Price Target from Brokerages

Shares of Flowserve Co. (NYSE:FLS) have earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $56.11.

A number of research firms recently weighed in on FLS. UBS Group increased their price objective on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Bank of America raised their price objective on Flowserve from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Citigroup upped their target price on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Mizuho reissued a “buy” rating and set a $53.00 target price (up previously from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price target on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st.

Flowserve Price Performance

Flowserve stock opened at $47.74 on Thursday. The company has a market capitalization of $6.29 billion, a PE ratio of 26.97, a P/E/G ratio of 1.19 and a beta of 1.42. The company has a current ratio of 2.00, a quick ratio of 1.28 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $47.97 and a two-hundred day moving average price of $46.58. Flowserve has a 12 month low of $35.31 and a 12 month high of $52.09.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $0.52 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that Flowserve will post 2.72 EPS for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is 47.46%.

Insider Activity

In related news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flowserve

A number of hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its position in shares of Flowserve by 1,137.3% during the second quarter. Point72 Asset Management L.P. now owns 306,852 shares of the industrial products company’s stock worth $14,760,000 after purchasing an additional 282,052 shares during the period. Chase Investment Counsel Corp increased its stake in Flowserve by 2.4% during the 2nd quarter. Chase Investment Counsel Corp now owns 107,650 shares of the industrial products company’s stock valued at $5,177,000 after purchasing an additional 2,503 shares in the last quarter. Brandes Investment Partners LP increased its stake in Flowserve by 8.6% during the 2nd quarter. Brandes Investment Partners LP now owns 83,435 shares of the industrial products company’s stock valued at $3,996,000 after purchasing an additional 6,597 shares in the last quarter. Algert Global LLC acquired a new position in Flowserve during the second quarter worth $2,278,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of Flowserve by 12.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 93,350 shares of the industrial products company’s stock valued at $4,490,000 after buying an additional 9,980 shares in 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.