Flowserve (NYSE:FLS) PT Raised to $54.00

Flowserve (NYSE:FLS) had its price objective increased by UBS Group from $46.00 to $54.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. UBS Group’s target price would suggest a potential upside of 13.64% from the company’s previous close.

Several other analysts have also weighed in on FLS. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 27th. Robert W. Baird upped their target price on Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada upped their target price on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Mizuho reaffirmed a “buy” rating and set a $53.00 target price (up from $50.00) on shares of Flowserve in a report on Wednesday. Finally, Citigroup upped their target price on Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.55.

Flowserve Stock Up 0.5 %

Shares of FLS traded up $0.25 during midday trading on Wednesday, reaching $47.52. 964,845 shares of the company were exchanged, compared to its average volume of 1,116,238. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. Flowserve has a 1-year low of $32.49 and a 1-year high of $49.35. The stock has a 50-day moving average price of $45.45 and a 200-day moving average price of $41.57. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.25 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Research analysts expect that Flowserve will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Flowserve

Hedge funds have recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new position in shares of Flowserve during the 4th quarter valued at $26,000. YHB Investment Advisors Inc. acquired a new position in shares of Flowserve during the 1st quarter valued at $36,000. Raleigh Capital Management Inc. increased its position in shares of Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 596 shares during the period. TFO Wealth Partners LLC increased its position in shares of Flowserve by 14,663.6% during the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Flowserve during the 1st quarter valued at $87,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.