Flowserve (NYSE:FLS) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of Flowserve (NYSE:FLS - Free Report) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Royal Bank of Canada cut their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Stifel Nicolaus lifted their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and a consensus target price of $68.60.

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Flowserve Price Performance

NYSE:FLS traded down $0.78 on Monday, reaching $50.65. The stock had a trading volume of 2,206,895 shares, compared to its average volume of 1,159,925. Flowserve has a 1-year low of $43.66 and a 1-year high of $65.08. The company has a market capitalization of $6.67 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average price of $57.54 and a 200-day moving average price of $56.25.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Research analysts forecast that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's payout ratio is 39.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC grew its stake in shares of Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock worth $1,962,000 after acquiring an additional 215 shares during the period. Arizona State Retirement System raised its holdings in shares of Flowserve by 0.6% during the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock valued at $2,193,000 after buying an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Flowserve by 0.9% during the 4th 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 buying an additional 236 shares in the last quarter. Savant Capital LLC grew its position in Flowserve by 0.4% during the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock worth $3,541,000 after acquiring an additional 251 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock worth $327,000 after buying an additional 252 shares during the last quarter. 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.