Analysts Set Flowserve Co. (NYSE:FLS) Target Price at $61.30

Flowserve Co. (NYSE:FLS) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $61.30.

Several analysts have issued reports on FLS shares. The Goldman Sachs Group upped their price objective on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $57.00 to $69.00 in a report on Friday. TD Cowen upped their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America upped their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FLS. State Street Corp grew its position in Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after buying an additional 37,132 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Flowserve by 31.8% during 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 acquiring an additional 663,631 shares during the period. Earnest Partners LLC grew its holdings in shares of Flowserve by 4.8% during the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock worth $128,841,000 after purchasing an additional 121,873 shares in the last quarter. Millennium Management LLC increased its position in shares of Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after purchasing an additional 1,596,429 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock valued at $134,577,000 after purchasing an additional 44,039 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Trading Up 1.4 %

Shares of Flowserve stock opened at $61.85 on Friday. The stock has a market cap of $8.13 billion, a P/E ratio of 30.62, a P/E/G ratio of 1.47 and a beta of 1.38. 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 $37.34 and a 12-month high of $62.22. The business’s 50 day moving average is $54.39 and its 200-day moving average is $50.37.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Equities research analysts predict that Flowserve will post 2.71 earnings per share for the current fiscal year.

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.