Flowserve (NYSE:FLS) Given New $53.00 Price Target at Stifel Nicolaus

Flowserve (NYSE:FLS - Get Free Report) had its price target raised by analysts at Stifel Nicolaus from $51.00 to $53.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Stifel Nicolaus' price target suggests a potential upside of 16.05% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. StockNews.com upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 22nd. Citigroup raised their price target on shares of Flowserve from $50.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Robert W. Baird raised their price target on shares of Flowserve from $46.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, February 22nd. Mizuho raised their price target on shares of Flowserve from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada lifted their price objective on shares of Flowserve from $43.00 to $46.00 and gave the company a "sector perform" rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.25.

Flowserve Trading Down 1.5 %

NYSE FLS traded down $0.71 during mid-day trading on Wednesday, reaching $45.67. 1,060,646 shares of the stock were exchanged, compared to its average volume of 1,088,768. Flowserve has a one year low of $32.05 and a one year high of $48.31. The stock has a 50 day simple moving average of $44.35 and a 200-day simple moving average of $40.90. The stock has a market cap of $5.99 billion, a P/E ratio of 32.39, a P/E/G ratio of 1.32 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.14 billion. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The business's quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. On average, analysts anticipate that Flowserve will post 2.55 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in Flowserve by 332.7% during the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company's stock worth $10,725,000 after purchasing an additional 207,346 shares during the last quarter. HighTower Advisors LLC raised its position in Flowserve by 4.8% in the third quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company's stock worth $1,936,000 after acquiring an additional 2,235 shares during the period. Peregrine Capital Management LLC bought a new stake in Flowserve in the fourth quarter worth about $6,031,000. Wakefield Asset Management LLLP bought a new stake in Flowserve in the fourth quarter worth about $866,000. Finally, Clearbridge Investments LLC bought a new stake in Flowserve in the third quarter worth about $29,745,000. 93.93% of the stock is currently 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.