Flowserve (NYSE:FLS) Given New $75.00 Price Target at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price objective boosted by Stifel Nicolaus from $72.00 to $75.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

FLS has been the topic of a number of other research reports. Royal Bank of Canada raised 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 research note on Friday, November 22nd. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. TD Cowen upped their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Bank of America boosted their price target on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.50.

Flowserve Stock Performance

Shares of FLS opened at $64.06 on Friday. Flowserve has a 12-month low of $39.69 and a 12-month high of $65.08. The stock has a market cap of $8.42 billion, a P/E ratio of 31.71, a PEG ratio of 1.31 and a beta of 1.42. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $60.27 and a two-hundred day moving average of $54.06.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. As a group, research analysts predict that Flowserve will post 2.7 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is currently 41.58%.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after purchasing an additional 37,132 shares during the period. AQR Capital Management LLC grew its stake in Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after buying an additional 663,631 shares during the period. Millennium Management LLC increased its position in shares of Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Flowserve by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock valued at $134,577,000 after acquiring an additional 44,039 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Flowserve by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after acquiring an additional 23,529 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.