Flowserve (NYSE:FLS) Price Target Raised to $75.00 at TD Cowen

Flowserve (NYSE:FLS) had its target price raised by stock analysts at TD Cowen from $60.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. TD Cowen’s price target would indicate a potential upside of 19.18% from the company’s current price.

Several other analysts have also issued reports on the company. Bank of America upped their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price objective on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Jefferies Financial Group began coverage on Flowserve in a research note on Friday, October 18th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and increased their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $66.10.

Flowserve Stock Up 3.7 %

NYSE FLS traded up $2.25 during trading hours on Thursday, hitting $62.93. 1,311,162 shares of the company traded hands, compared to its average volume of 1,189,664. The business’s 50-day moving average is $59.69 and its 200-day moving average is $53.29. Flowserve has a twelve month low of $39.37 and a twelve month high of $63.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 1.17 and a beta of 1.42.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts anticipate that Flowserve will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On Flowserve

A number of large investors have recently modified their holdings of the business. True Wealth Design LLC acquired a new stake in shares of Flowserve during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Flowserve during the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new position in Flowserve during the 3rd quarter worth $29,000. Finally, Allworth Financial LP raised its position in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 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.