Robert W. Baird Increases Flowserve (NYSE:FLS) Price Target to $71.00

Flowserve (NYSE:FLS - Get Free Report) had its target price raised by Robert W. Baird from $69.00 to $71.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. Robert W. Baird's price target would suggest a potential upside of 28.21% from the stock's current price.

FLS has been the topic of several other research reports. Bank of America boosted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 27th. Royal Bank of Canada raised shares of Flowserve from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Citigroup dropped their price objective on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.60.

Flowserve Trading Down 3.6 %

Shares of NYSE FLS traded down $2.08 during midday trading on Thursday, hitting $55.38. 2,004,391 shares of the company traded hands, compared to its average volume of 1,352,376. Flowserve has a 12-month low of $41.60 and a 12-month high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a 50-day moving average price of $60.57 and a 200 day moving average price of $55.78. The firm has a market cap of $7.28 billion, a P/E ratio of 25.88, a P/E/G ratio of 1.21 and a beta of 1.42.

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 company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.21 billion. As a group, analysts expect that Flowserve will post 3.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in Flowserve during the third quarter valued at approximately $25,000. Headlands Technologies LLC lifted its position in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 479 shares during the period. Ashton Thomas Securities LLC bought a new position in Flowserve during the third quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve during the third quarter valued at approximately $29,000. Finally, Allworth Financial LP increased its holdings in Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock valued at $34,000 after buying an additional 403 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.