Flowserve (NYSE:FLS) Price Target Increased to $65.00 by Analysts at Bank of America

Flowserve (NYSE:FLS) had its target price upped by Bank of America from $60.00 to $65.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s target price would suggest a potential upside of 20.08% from the company’s current price.

A number of other brokerages have also recently weighed in on FLS. TD Cowen boosted their price target 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. Jefferies Financial Group assumed coverage on Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada raised their price target on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.60.

Flowserve Stock Down 0.0 %

Flowserve stock opened at $54.13 on Wednesday. The stock’s fifty day moving average is $50.47 and its two-hundred day moving average is $48.89. The stock has a market cap of $7.13 billion, a PE ratio of 30.59, a P/E/G ratio of 1.27 and a beta of 1.39. Flowserve has a 1-year low of $35.80 and a 1-year high of $55.90. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts expect that Flowserve will post 2.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Flowserve

A number of institutional investors have recently added to or reduced their stakes in FLS. AQR Capital Management LLC lifted its holdings in shares of Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after buying an additional 663,631 shares during the period. Earnest Partners LLC raised its position in Flowserve by 4.8% in the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock worth $128,841,000 after acquiring an additional 121,873 shares in the last quarter. Millennium Management LLC lifted its holdings in Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Flowserve by 3.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock valued at $123,112,000 after acquiring an additional 83,868 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Flowserve by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock worth $108,191,000 after purchasing an additional 169,506 shares in the last quarter. Hedge funds and other institutional investors 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.