Analysts Set Flowserve Co. (NYSE:FLS) Price Target at $58.50

Shares of Flowserve Co. (NYSE:FLS - Get Free Report) have received an average recommendation of "Moderate Buy" from the ten analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $58.50.

A number of research analysts recently issued reports on the company. Bank of America restated a "buy" rating and set a $60.00 price target on shares of Flowserve in a report on Tuesday, September 24th. Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 8th. The Goldman Sachs Group upped their target price on Flowserve from $46.00 to $52.00 and gave the stock a "sell" rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group initiated coverage on Flowserve in a report on Friday, October 18th. They set a "buy" rating and a $65.00 target price on the stock.

Flowserve Trading Up 2.3 %

Shares of FLS traded up $1.20 during trading hours on Tuesday, hitting $54.14. The company had a trading volume of 3,888,012 shares, compared to its average volume of 1,086,189. The firm has a market cap of $7.13 billion, a P/E ratio of 30.59, a P/E/G ratio of 1.27 and a beta of 1.39. The stock's 50 day moving average price is $50.47 and its 200 day moving average price is $48.89. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. Flowserve has a 52-week low of $35.80 and a 52-week high of $55.90.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.67% and a return on equity of 16.74%. 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 prior year, the firm earned $0.50 EPS. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts predict that Flowserve will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.55%. Flowserve's dividend payout ratio is currently 47.46%.

Institutional Trading of Flowserve

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its position in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company's stock valued at $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in Flowserve in the 1st quarter valued at approximately $41,413,000. Vaughan Nelson Investment Management L.P. bought a new position in Flowserve in the 2nd quarter valued at approximately $37,100,000. AQR Capital Management LLC lifted its position in Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company's stock valued at $132,221,000 after acquiring an additional 663,631 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Flowserve by 5,256.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company's stock valued at $29,452,000 after acquiring an additional 600,866 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

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.