Stifel Nicolaus Raises Flowserve (NYSE:FLS) Price Target to $53.00

Flowserve (NYSE:FLS) had its price target boosted by investment analysts at Stifel Nicolaus from $51.00 to $53.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 15.72% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada lifted their target price on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. Mizuho lifted their target price on Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Citigroup lifted their target price on Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 8th. StockNews.com upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 22nd. Finally, Robert W. Baird lifted their price objective on Flowserve from $46.00 to $50.00 and gave the company a “neutral” 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, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.25.

Flowserve Price Performance

FLS stock traded down $0.58 during midday trading on Wednesday, reaching $45.80. The stock had a trading volume of 645,288 shares, compared to its average volume of 1,082,103. The company’s fifty day simple moving average is $44.26 and its 200 day simple moving average is $40.86. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.32 and a beta of 1.46. Flowserve has a 52-week low of $32.05 and a 52-week high of $48.31.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. As a group, sell-side analysts predict that Flowserve will post 2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLS. Wellington Management Group LLP acquired a new position in Flowserve during the first quarter worth approximately $163,840,000. Norges Bank acquired a new position in Flowserve during the fourth quarter worth approximately $59,261,000. Millennium Management LLC acquired a new position in Flowserve during the fourth quarter worth approximately $25,041,000. Clearbridge Investments LLC acquired a new position in Flowserve during the third quarter worth approximately $29,745,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Flowserve in the first quarter valued at approximately $18,741,000. 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.