Flowserve (NYSE:FLS) Price Target Raised to $71.00 at Robert W. Baird

Flowserve (NYSE:FLS) had its price objective increased by analysts at Robert W. Baird from $69.00 to $71.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target points to a potential upside of 20.25% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Bank of America boosted their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $57.00 to $69.00 in a report on Friday, November 22nd. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Finally, Citigroup dropped their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Flowserve Trading Down 6.4 %

Shares of FLS stock opened at $59.04 on Thursday. 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 fifty day simple moving average of $60.75 and a two-hundred day simple moving average of $55.69. The firm has a market capitalization of $7.76 billion, a PE ratio of 27.59, a PEG ratio of 1.28 and a beta of 1.42. Flowserve has a 52-week low of $41.60 and a 52-week high of $65.08.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.11% and a net margin of 6.20%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. On average, analysts predict that Flowserve will post 3.21 EPS for the current fiscal year.

Institutional Trading of Flowserve

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC boosted its stake in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after buying an additional 479 shares during the period. True Wealth Design LLC purchased a new position in shares of Flowserve during the 3rd quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new position in Flowserve during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in Flowserve in the 3rd quarter worth about $29,000. Finally, Colonial Trust Co SC lifted its stake in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 478 shares during the last quarter. Hedge funds and other institutional investors 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.