Flowserve (NYSE:FLS) Price Target Raised to $52.00

Flowserve (NYSE:FLS) had its target price upped by The Goldman Sachs Group from $46.00 to $52.00 in a report released on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the industrial products company’s stock.

FLS has been the subject of a number of other reports. StockNews.com downgraded shares of Flowserve from a strong-buy rating to a buy rating in a research report on Thursday, August 8th. Bank of America reissued a buy rating and set a $60.00 target price on shares of Flowserve in a research report on Tuesday, September 24th. Royal Bank of Canada increased their target price on shares of Flowserve from $50.00 to $52.00 and gave the company a sector perform rating in a research report on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Flowserve from $57.00 to $60.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. Finally, TD Cowen raised their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a buy rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $56.33.

Flowserve Trading Up 2.3 %

NYSE:FLS opened at $55.10 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. Flowserve has a 52 week low of $35.31 and a 52 week high of $55.17. The firm has a 50-day moving average price of $48.75 and a two-hundred day moving average price of $48.34.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, equities analysts expect that Flowserve will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is presently 47.46%.

Institutional Trading of Flowserve

Several institutional investors and hedge funds have recently bought and sold shares of FLS. Raleigh Capital Management Inc. lifted its stake in Flowserve by 122.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Flowserve during the 4th quarter valued at $199,000. Vanguard Group Inc. raised its position in shares of Flowserve by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after buying an additional 144,704 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Flowserve by 345.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 113,500 shares of the industrial products company’s stock valued at $4,678,000 after buying an additional 88,000 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Flowserve during the 4th quarter valued at $440,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.