Flowserve (NYSE:FLS) Raised to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of Flowserve (NYSE:FLS) from a neutral rating to an outperform rating in a research note published on Monday, Marketbeat reports. The firm currently has $71.00 price target on the industrial products company’s stock.

FLS has been the subject of a number of other reports. Mizuho increased their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and increased their target price for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Stifel Nicolaus upped their price objective on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 20th. 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 report on Thursday, January 16th. Finally, StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Stock Performance

NYSE:FLS opened at $50.38 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The company has a fifty day moving average of $58.19 and a two-hundred day moving average of $56.31. The stock has a market capitalization of $6.64 billion, a PE ratio of 23.54, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve has a fifty-two week low of $43.66 and a fifty-two week high of $65.08.

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

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its stake in Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after buying an additional 215 shares during the period. Arizona State Retirement System boosted its stake in shares of Flowserve by 0.6% in 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 purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in shares of 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 valued at $1,527,000 after purchasing an additional 236 shares during the period. Savant Capital LLC boosted its stake in shares of Flowserve by 0.4% in the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after purchasing an additional 251 shares during the period. Finally, National Bank of Canada FI boosted its stake in shares of Flowserve by 4.1% in the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 252 shares during the period. 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.