Flowserve (NYSE:FLS) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Flowserve (NYSE:FLS - Free Report) from a buy rating to a strong-buy rating in a research report report published on Friday.

Other research analysts have also issued reports about the company. Robert W. Baird lowered their price target on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus upped their target price on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Citigroup cut their target price on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank of Canada upped their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $63.00.

Flowserve Trading Down 1.5%

FLS stock traded down $0.71 during mid-day trading on Friday, hitting $48.16. 1,946,512 shares of the company were exchanged, compared to its average volume of 1,370,780. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $6.30 billion, a P/E ratio of 22.51, a PEG ratio of 1.35 and a beta of 1.26. The business has a fifty day simple moving average of $46.33 and a 200-day simple moving average of $53.73. Flowserve has a 12-month low of $37.34 and a 12-month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.58 earnings per share. Flowserve's revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve's dividend payout ratio is presently 39.25%.

Institutional Investors Weigh In On Flowserve

Large investors have recently modified their holdings of the company. New York Life Investment Management LLC purchased a new position in shares of Flowserve in the 4th quarter valued at about $800,000. American Century Companies Inc. increased its holdings in shares of Flowserve by 25.9% in the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock valued at $6,384,000 after acquiring an additional 22,850 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Flowserve in the 4th quarter valued at about $422,000. Commonwealth Equity Services LLC increased its holdings in shares of Flowserve by 103.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock valued at $1,197,000 after acquiring an additional 10,557 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Flowserve in the 4th quarter valued at about $278,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.