Mizuho Raises Flowserve (NYSE:FLS) Price Target to $65.00

Flowserve (NYSE:FLS) had its price target boosted by stock analysts at Mizuho from $58.00 to $65.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s target price indicates a potential upside of 18.42% from the company’s current price.

Several other brokerages have also recently weighed in on FLS. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. TD Cowen boosted their target price on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their target price on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Finally, Bank of America restated a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.78.

Flowserve Stock Performance

NYSE FLS opened at $54.89 on Thursday. The firm has a 50-day moving average of $49.14 and a 200-day moving average of $48.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The stock has a market cap of $7.23 billion, a PE ratio of 31.01, a P/E/G ratio of 1.27 and a beta of 1.39. Flowserve has a 52-week low of $35.31 and a 52-week high of $55.37.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted $0.52 EPS. Flowserve’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Flowserve will post 2.76 EPS for the current year.

Hedge Funds Weigh In On Flowserve

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 370 shares during the period. nVerses Capital LLC bought a new stake in shares of Flowserve in the 2nd quarter valued at $34,000. GAMMA Investing LLC boosted its stake in shares of Flowserve by 166.0% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 616 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Flowserve in the 2nd quarter valued at $70,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Flowserve in the 1st quarter valued at $87,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.