Flowserve (NYSE:FLS) Rating Increased to Outperform at Robert W. Baird

Flowserve (NYSE:FLS) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $71.00 price target on the industrial products company’s stock. Robert W. Baird’s target price points to a potential upside of 44.91% from the company’s current price.

A number of other brokerages also recently issued reports on FLS. Mizuho upped their price target on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Stifel Nicolaus increased their target price on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Citigroup reduced their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Trading Up 2.9 %

FLS opened at $49.00 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6.45 billion, a PE ratio of 22.89, a PEG ratio of 1.35 and a beta of 1.43. The business has a 50 day moving average of $58.36 and a 200-day moving average of $56.30. Flowserve has a 52 week low of $43.66 and a 52 week high of $65.08.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Equities research analysts predict that Flowserve will post 3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Several institutional investors have recently made changes to their positions in FLS. HighTower Advisors LLC increased its position in Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after purchasing an additional 215 shares during the period. Arizona State Retirement System increased its holdings in Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after buying an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in Flowserve by 0.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock worth $1,527,000 after buying an additional 236 shares in the last quarter. Savant Capital LLC lifted its holdings in Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after buying an additional 251 shares during the period. Finally, National Bank of Canada FI boosted its position in Flowserve by 4.1% during the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 252 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.