Stifel Nicolaus Raises Flowserve (NYSE:FLS) Price Target to $66.00

Key Points

• Stifel Nicolaus has raised the price target for Flowserve (NYSE:FLS) from $63.00 to $66.00, indicating a potential upside of 17.67% from the stock's previous close, while maintaining a "buy" rating.
• Multiple other analysts, including Citigroup and Royal Bank of Canada, have also increased their price targets for Flowserve, contributing to a consensus rating of "Buy" with an average target price of $65.78.
• Flowserve recently reported earnings per share of $0.91, surpassing analysts' expectations, with a net margin of 6.28% and revenue of $1.19 billion in its last quarterly report.

Flowserve (NYSE:FLS - Get Free Report) had its price objective boosted by equities researchers at Stifel Nicolaus from $63.00 to $66.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Stifel Nicolaus' price target would indicate a potential upside of 17.67% from the stock's previous close.

FLS has been the topic of several other reports. Citigroup boosted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Robert W. Baird dropped their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Royal Bank Of Canada upped their price target on Flowserve from $64.00 to $66.00 and gave the stock an "outperform" rating in a report on Thursday. Mizuho set a $60.00 price target on Flowserve in a report on Friday, May 16th. Finally, The Goldman Sachs Group upped their price target on Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $65.78.

Flowserve Stock Up 0.2%

Flowserve stock traded up $0.09 during trading on Thursday, reaching $56.09. The stock had a trading volume of 1,055,242 shares, compared to its average volume of 2,107,673. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68. Flowserve has a 52-week low of $37.34 and a 52-week high of $65.08. The business has a 50 day moving average price of $50.99 and a 200 day moving average price of $51.77. The stock has a market cap of $7.33 billion, a PE ratio of 25.36, a P/E/G ratio of 1.22 and a beta of 1.25.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.13. Flowserve had a net margin of 6.28% and a return on equity of 18.64%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. On average, analysts predict that Flowserve will post 3.18 EPS for the current year.

Institutional Investors Weigh In On Flowserve

A number of hedge funds and other institutional investors have recently made changes to their positions in FLS. Principal Financial Group Inc. grew its holdings in Flowserve by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 302,275 shares of the industrial products company's stock valued at $14,763,000 after buying an additional 1,103 shares during the last quarter. KBC Group NV raised its position in 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 last quarter. GAMMA Investing LLC raised its position in Flowserve by 26.6% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company's stock valued at $112,000 after purchasing an additional 481 shares during the last quarter. Johnson Investment Counsel Inc. bought a new stake in shares of Flowserve during the first quarter worth $216,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Flowserve by 453.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company's stock worth $8,402,000 after acquiring an additional 139,939 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.