Flowserve (NYSE:FLS) Price Target Raised to $65.00 at Citigroup

Flowserve (NYSE:FLS - Get Free Report) had its target price lifted by research analysts at Citigroup from $58.00 to $65.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Citigroup's price target suggests a potential upside of 22.48% from the company's previous close.

Several other brokerages also recently weighed in on FLS. Mizuho set a $60.00 price target on Flowserve in a report on Friday, May 16th. Royal Bank Of Canada increased their price objective on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Stifel Nicolaus increased their price objective on Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $63.00.

Flowserve Trading Down 1.0%

FLS stock traded down $0.55 on Monday, reaching $53.07. The company's stock had a trading volume of 659,798 shares, compared to its average volume of 1,592,433. The business has a fifty day simple moving average of $49.89 and a two-hundred day simple moving average of $52.06. Flowserve has a 12-month low of $37.34 and a 12-month high of $65.08. The firm has a market cap of $6.94 billion, a PE ratio of 24.82, a PEG ratio of 1.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.13. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $0.58 earnings per share. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that Flowserve will post 3.18 EPS for the current year.

Hedge Funds Weigh In On Flowserve

Large investors have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Flowserve by 0.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after buying an additional 236 shares during the period. Delta Investment Management LLC lifted its holdings in shares of Flowserve by 3.2% in the 1st quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company's stock worth $374,000 after buying an additional 237 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Flowserve by 0.9% in the 1st quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company's stock worth $1,378,000 after buying an additional 238 shares during the period. KBC Group NV lifted its holdings 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 worth $277,000 after buying an additional 258 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Flowserve by 1.8% in the 1st quarter. Xponance Inc. now owns 15,407 shares of the industrial products company's stock worth $752,000 after buying an additional 267 shares during the period. 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.

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