Robert W. Baird Upgrades Flowserve (NYSE:FLS) to "Outperform"

Flowserve (NYSE:FLS - Get Free Report) was upgraded by analysts at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a $71.00 target price on the industrial products company's stock. Robert W. Baird's target price would indicate a potential upside of 40.19% from the company's previous close.

Several other analysts also recently issued reports on the company. StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Royal Bank of Canada lowered their target price on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a "sell" rating to a "neutral" rating and upped their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Mizuho lifted their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus increased their price objective on shares of Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $68.60.

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Flowserve Stock Performance

FLS traded down $0.78 during midday trading on Monday, reaching $50.65. The company had a trading volume of 2,206,895 shares, compared to its average volume of 1,160,043. Flowserve has a 1 year low of $43.66 and a 1 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. The company has a market cap of $6.67 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.35 and a beta of 1.43. The business has a 50-day moving average of $57.70 and a two-hundred day moving average of $56.24.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly 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). The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, equities research analysts predict that Flowserve will post 3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Several large investors have recently modified their holdings of FLS. True Wealth Design LLC purchased a new position in Flowserve during the third quarter worth $25,000. Headlands Technologies LLC lifted its stake in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after acquiring an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Flowserve during the 3rd quarter valued at $29,000. Park Square Financial Group LLC bought a new position in Flowserve in the 4th quarter valued at $33,000. Finally, Colonial Trust Co SC increased its stake in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after purchasing an additional 478 shares during the period. Institutional investors own 93.93% of the company's stock.

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.