Flowserve Co. (NYSE:FLS) Receives $64.40 Average Price Target from Brokerages

Shares of Flowserve Co. (NYSE:FLS - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $64.40.

Several equities analysts have recently weighed in on the company. Bank of America lifted their price target on Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of Flowserve in a report on Friday, October 18th. They issued a "buy" rating and a $65.00 price target on the stock. Citigroup boosted their price objective on shares of Flowserve from $65.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, Robert W. Baird increased their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th.

Flowserve Stock Performance

Flowserve stock traded down $0.68 during midday trading on Friday, reaching $58.33. The stock had a trading volume of 1,128,150 shares, compared to its average volume of 1,133,019. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $7.66 billion, a PE ratio of 28.88, a P/E/G ratio of 1.46 and a beta of 1.41. Flowserve has a 12 month low of $39.37 and a 12 month high of $62.32. The firm's 50-day moving average price is $59.48 and its 200 day moving average price is $53.04.

Flowserve (NYSE:FLS - Get Free Report) 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). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, research analysts predict that Flowserve will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.44%. Flowserve's dividend payout ratio is currently 41.58%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLS. Michael S. Ryan Inc. increased its position in Flowserve by 4.6% during the 4th quarter. Michael S. Ryan Inc. now owns 8,351 shares of the industrial products company's stock valued at $480,000 after purchasing an additional 370 shares during the period. Oliver Luxxe Assets LLC bought a new stake in shares of Flowserve during the 4th quarter valued at about $2,753,000. Insight Wealth Strategies LLC increased its position in shares of Flowserve by 1.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 67,744 shares of the industrial products company's stock valued at $3,897,000 after buying an additional 1,051 shares during the period. GAMMA Investing LLC raised its stake in Flowserve by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock worth $104,000 after buying an additional 290 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Flowserve by 7.8% in the third quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company's stock worth $3,909,000 after buying an additional 5,127 shares during the period. 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.