Flowserve (NYSE:FLS) Given New $53.00 Price Target at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price target hoisted by stock analysts at Stifel Nicolaus from $51.00 to $53.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 16.15% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. StockNews.com upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 22nd. Robert W. Baird boosted their target price on shares of Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Mizuho boosted their target price on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Citigroup boosted their target price on shares of Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada boosted their target price on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.25.

Flowserve Stock Performance

FLS opened at $45.63 on Wednesday. Flowserve has a 1-year low of $32.05 and a 1-year high of $48.31. The business has a 50 day moving average price of $44.43 and a two-hundred day moving average price of $40.93. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts predict that Flowserve will post 2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Hedge funds have recently bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new position in Flowserve during the fourth quarter worth $26,000. First Manhattan CO. LLC. increased its position in Flowserve by 682.6% during the first quarter. First Manhattan CO. LLC. now owns 900 shares of the industrial products company’s stock worth $31,000 after buying an additional 785 shares during the last quarter. Raleigh Capital Management Inc. increased its position in Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after buying an additional 596 shares during the last quarter. Quarry LP acquired a new position in Flowserve during the first quarter worth $38,000. Finally, Harbour Investments Inc. increased its position in Flowserve by 79.5% during the fourth quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock worth $49,000 after buying an additional 700 shares during the last quarter. 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.