Flowserve (NYSE:FLS) Price Target Increased to $55.00 by Analysts at TD Cowen

Flowserve (NYSE:FLS) had its price target hoisted by investment analysts at TD Cowen from $50.00 to $55.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. TD Cowen’s price target indicates a potential upside of 15.64% from the company’s previous close.

Several other analysts also recently weighed in on FLS. Stifel Nicolaus boosted their price target on shares of Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America boosted their price target on shares of Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group boosted their price target on shares of Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho reissued a “buy” rating and issued a $53.00 price target (up from $50.00) on shares of Flowserve in a research note on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Flowserve Price Performance

NYSE:FLS traded up $0.33 during midday trading on Thursday, hitting $47.56. The company had a trading volume of 823,274 shares, compared to its average volume of 1,110,773. Flowserve has a 52-week low of $32.49 and a 52-week high of $49.35. The stock’s fifty day moving average price is $45.24 and its 200-day moving average price is $41.47. The company has a market capitalization of $6.26 billion, a PE ratio of 26.83, a P/E/G ratio of 1.33 and a beta of 1.42. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, research analysts expect that Flowserve will post 2.57 earnings per share for the current year.

Hedge Funds Weigh In On Flowserve

A number of institutional investors have recently bought and sold shares of the stock. Moody National Bank Trust Division raised its stake in Flowserve by 2.8% in the first quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock worth $434,000 after buying an additional 259 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Flowserve by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company’s stock worth $2,285,000 after purchasing an additional 290 shares during the period. Verdence Capital Advisors LLC grew its holdings in Flowserve by 3.1% in the third quarter. Verdence Capital Advisors LLC now owns 9,606 shares of the industrial products company’s stock worth $382,000 after purchasing an additional 291 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Flowserve by 6.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 7,240 shares of the industrial products company’s stock worth $288,000 after purchasing an additional 409 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Flowserve by 0.3% in the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after purchasing an additional 433 shares during the period. 93.93% of the stock is owned by institutional investors.

About Flowserve

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.