Flowserve (NYSE:FLS) Price Target Raised to $70.00 at Mizuho

Flowserve (NYSE:FLS) had its target price lifted by Mizuho from $65.00 to $70.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s target price would suggest a potential upside of 21.59% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Bank of America raised their target price on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. TD Cowen increased their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Stifel Nicolaus raised their price target on shares of Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Citigroup cut their price target 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. Two analysts have rated the stock with a hold rating and nine have given 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 $68.40.

Flowserve Trading Down 2.4 %

Shares of Flowserve stock traded down $1.43 on Thursday, hitting $57.57. 419,826 shares of the company traded hands, compared to its average volume of 1,288,232. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market cap of $7.56 billion, a PE ratio of 26.90, a PEG ratio of 1.28 and a beta of 1.42. The stock’s 50 day moving average price is $60.75 and its 200-day moving average price is $55.69. Flowserve has a 52 week low of $41.60 and a 52 week high of $65.08.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.11%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts predict that Flowserve will post 3.21 EPS for the current year.

Institutional Trading of Flowserve

A number of hedge funds have recently added to or reduced their stakes in FLS. State Street Corp raised its stake in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after purchasing an additional 37,132 shares during the last quarter. Vestcor Inc acquired a new position in Flowserve in the 3rd quarter valued at $714,000. Stifel Financial Corp raised its position in Flowserve by 14.0% during the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock worth $12,619,000 after buying an additional 29,979 shares during the last quarter. Algert Global LLC increased its stake in shares of Flowserve by 130.3% during the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock worth $5,638,000 after acquiring an additional 61,710 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after buying an additional 422,141 shares in the last quarter. 93.93% of the stock is 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.