Robert W. Baird Lowers Flowserve (NYSE:FLS) Price Target to $70.00

Flowserve (NYSE:FLS - Free Report) had its target price decreased by Robert W. Baird from $71.00 to $70.00 in a research note published on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company's stock.

Several other research analysts have also commented on FLS. Mizuho raised their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price target on shares of Flowserve from $77.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, April 14th. TD Cowen increased their price objective on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Royal Bank of Canada lowered their target price on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Citigroup reduced their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $64.11.

Flowserve Trading Up 3.0 %

Shares of Flowserve stock traded up $1.38 on Thursday, reaching $47.54. The company had a trading volume of 1,963,985 shares, compared to its average volume of 1,285,893. The firm's 50 day moving average price is $46.80 and its two-hundred day moving average price is $55.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve has a 52-week low of $37.34 and a 52-week high of $65.08. The firm has a market cap of $6.21 billion, a PE ratio of 22.22, a PEG ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. Sell-side analysts predict that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, March 28th. Flowserve's dividend payout ratio (DPR) is 39.25%.

Institutional Trading of Flowserve

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in Flowserve by 0.6% during the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock worth $2,193,000 after acquiring an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Flowserve by 0.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after purchasing an additional 236 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of Flowserve by 0.9% during the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company's stock worth $1,378,000 after purchasing an additional 238 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock valued at $3,541,000 after purchasing an additional 251 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Flowserve by 4.8% in the 1st quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock valued at $277,000 after purchasing an additional 258 shares during the period. Institutional investors and hedge funds 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.