Robert W. Baird Raises Flowserve (NYSE:FLS) Price Target to $71.00

Flowserve (NYSE:FLS) had its price target increased by Robert W. Baird from $69.00 to $71.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

FLS has been the topic of a number of other reports. Bank of America upped their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. TD Cowen upped their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Stifel Nicolaus upped their price target on shares of Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Price Performance

Shares of NYSE:FLS opened at $57.47 on Thursday. The company’s fifty day moving average is $60.68 and its two-hundred day moving average is $55.70. 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 12-month low of $41.60 and a 12-month high of $65.08. The company has a market cap of $7.55 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.11%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Equities analysts expect that Flowserve will post 3.21 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio is currently 39.25%.

Institutional Investors Weigh In On Flowserve

Hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC acquired a new stake in shares of Flowserve in the third quarter valued at about $25,000. Headlands Technologies LLC grew its position in shares of Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 479 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Flowserve in the third quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve in the third quarter valued at about $29,000. Finally, Allworth Financial LP lifted its stake in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after buying an additional 403 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

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.