Flowserve (NYSE:FLS) Price Target Raised to $77.00 at Stifel Nicolaus

Flowserve (NYSE:FLS - Get Free Report) had its price objective boosted by research analysts at Stifel Nicolaus from $75.00 to $77.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Stifel Nicolaus' target price suggests a potential upside of 39.04% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. Mizuho raised their price target on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday. Citigroup dropped their target price on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a report on Monday, January 13th. TD Cowen lifted their target price on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a report on Friday, December 27th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $68.60.

Flowserve Stock Performance

Flowserve stock traded down $2.08 during mid-day trading on Thursday, hitting $55.38. 2,004,391 shares of the company's stock traded hands, compared to its average volume of 1,352,376. The firm has a 50 day simple moving average of $60.57 and a two-hundred day simple moving average of $55.78. Flowserve has a fifty-two week low of $41.60 and a fifty-two week high of $65.08. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 1.21 and a beta of 1.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KPP Advisory Services LLC raised its stake in Flowserve by 3.2% in the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company's stock valued at $364,000 after purchasing an additional 215 shares in the last quarter. HighTower Advisors LLC raised its stake in Flowserve by 0.6% in the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock valued at $1,962,000 after purchasing an additional 215 shares in the last quarter. Arizona State Retirement System grew its position in 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 acquiring an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in 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 acquiring an additional 236 shares during the last quarter. Finally, Savant Capital LLC grew its position in 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 acquiring an additional 251 shares during the last quarter. Institutional investors and hedge funds 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.