Flowserve (NYSE:FLS) Given New $68.00 Price Target at Royal Bank of Canada

Flowserve (NYSE:FLS) had its price target trimmed by Royal Bank of Canada from $69.00 to $68.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on FLS. TD Cowen boosted their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Robert W. Baird upped their target price on shares of Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America lifted their price target on 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 raised Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, Stifel Nicolaus boosted their target price on Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Price Performance

NYSE FLS opened at $57.47 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $60.68 and its 200-day moving average is $55.70. The company has a market capitalization of $7.55 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. Flowserve has a 12-month low of $41.60 and a 12-month high of $65.08.

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

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.46%. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. KPP Advisory Services LLC increased its holdings in Flowserve by 3.2% in the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after buying an additional 215 shares during the period. HighTower Advisors LLC boosted its position in shares of Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after acquiring an additional 215 shares in the last quarter. Arizona State Retirement System increased its stake in Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after acquiring an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in Flowserve by 0.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock valued at $1,527,000 after purchasing an additional 236 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after purchasing an additional 251 shares during the last quarter. 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.