TD Cowen Issues Positive Forecast for Flowserve (NYSE:FLS) Stock Price

Flowserve (NYSE:FLS - Get Free Report) had its price objective hoisted by equities research analysts at TD Cowen from $60.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. TD Cowen's target price indicates a potential upside of 17.92% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and raised their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Mizuho raised their price target on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Robert W. Baird boosted their price objective on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised Flowserve from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Finally, Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $66.10.

Flowserve Price Performance

NYSE:FLS traded up $0.86 during mid-day trading on Thursday, reaching $63.61. The stock had a trading volume of 1,052,305 shares, compared to its average volume of 1,286,436. Flowserve has a one year low of $39.69 and a one year high of $63.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The firm has a 50 day moving average price of $59.77 and a two-hundred day moving average price of $53.35. The stock has a market capitalization of $8.36 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.17 and a beta of 1.42.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company's revenue was up 3.5% compared to the same quarter last year. As a group, analysts expect that Flowserve will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On Flowserve

A number of large investors have recently modified their holdings of FLS. Veracity Capital LLC lifted its holdings in Flowserve by 24.2% in the fourth quarter. Veracity Capital LLC now owns 14,043 shares of the industrial products company's stock worth $808,000 after buying an additional 2,736 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Flowserve by 18.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 42,050 shares of the industrial products company's stock worth $2,419,000 after buying an additional 6,584 shares during the period. SG Americas Securities LLC increased its stake in shares of Flowserve by 107.2% in the 4th quarter. SG Americas Securities LLC now owns 82,946 shares of the industrial products company's stock worth $4,771,000 after acquiring an additional 42,908 shares in the last quarter. Simon Quick Advisors LLC purchased a new position in Flowserve during the 4th quarter valued at about $255,000. Finally, UMB Bank n.a. boosted its stake in Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after acquiring an additional 278 shares in the last quarter. 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.