Brokerages Set Flowserve Co. (NYSE:FLS) Price Target at $61.30

Flowserve Co. (NYSE:FLS) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $61.30.

Several equities analysts recently weighed in on FLS shares. Royal Bank of Canada upgraded 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. Robert W. Baird raised their price target on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Mizuho increased their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, TD Cowen boosted their target price on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Institutional Trading of Flowserve

Hedge funds have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its position in shares of Flowserve by 7.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock worth $286,000 after buying an additional 426 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Flowserve by 1.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 86,629 shares of the industrial products company’s stock worth $3,957,000 after acquiring an additional 1,328 shares during the last quarter. Natixis grew its stake in shares of Flowserve by 964.3% during the 1st quarter. Natixis now owns 9,951 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 9,016 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Flowserve by 0.7% in the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock valued at $2,127,000 after purchasing an additional 305 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of Flowserve by 49.4% in the first quarter. Quadrature Capital Ltd now owns 15,944 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 5,271 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Trading Up 1.4 %

FLS stock opened at $61.85 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve has a twelve month low of $37.34 and a twelve month high of $62.22. The company has a market cap of $8.13 billion, a P/E ratio of 30.62, a PEG ratio of 1.47 and a beta of 1.38. The business has a fifty day moving average of $54.39 and a 200-day moving average of $50.37.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Flowserve will post 2.71 EPS for the current year.

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.