Analysts Set Flowserve Co. (NYSE:FLS) Target Price at $68.60

Flowserve Co. (NYSE:FLS - Get Free Report) has received an average recommendation of "Buy" from the eleven ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $68.60.

A number of equities research analysts recently commented on FLS shares. Mizuho increased their price target on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" 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 report on Thursday, February 20th. The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and lifted their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Royal Bank of Canada lowered their price objective on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th.

Flowserve Price Performance

NYSE:FLS traded up $0.10 during trading hours on Friday, reaching $48.88. The company had a trading volume of 1,773,587 shares, compared to its average volume of 1,222,953. The firm has a market capitalization of $6.44 billion, a PE ratio of 22.84, a PEG ratio of 1.35 and a beta of 1.43. The stock has a 50-day moving average of $56.24 and a two-hundred day moving average of $56.58. Flowserve has a one year low of $43.66 and a one year high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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Flowserve (NYSE:FLS - Get Free Report) last posted its 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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Analysts forecast that Flowserve will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Friday, March 28th. Flowserve's dividend payout ratio is 39.25%.

Hedge Funds Weigh In On Flowserve

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Flowserve by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock valued at $775,209,000 after acquiring an additional 101,668 shares during the last quarter. FIL Ltd grew its stake in shares of Flowserve by 71.7% during the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after purchasing an additional 2,193,904 shares during the period. State Street Corp increased its holdings in Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock valued at $201,685,000 after purchasing an additional 37,132 shares during the last quarter. AQR Capital Management LLC lifted its stake in Flowserve by 9.7% in the fourth quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company's stock valued at $168,272,000 after buying an additional 258,361 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Flowserve by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company's stock worth $136,213,000 after buying an additional 38,340 shares during the last quarter. 93.93% of the stock is currently 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.