Flowserve (NYSE:FLS) Given New $77.00 Price Target at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price objective lifted by Stifel Nicolaus from $75.00 to $77.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

FLS has been the subject of several other research reports. Bank of America lifted their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada decreased their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and increased their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Citigroup reduced their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Robert W. Baird boosted their target price on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Price Performance

Shares of FLS opened at $57.47 on Thursday. The company has a market cap of $7.55 billion, a P/E ratio of 26.86, a PEG ratio of 1.28 and a beta of 1.42. Flowserve has a fifty-two week low of $41.60 and a fifty-two week high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average price is $60.68 and its 200 day moving average price is $55.70.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 17.11% and a net margin of 6.20%. On average, research analysts forecast that Flowserve will post 3.21 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.46%. Flowserve’s dividend payout ratio is presently 39.25%.

Hedge Funds Weigh In On Flowserve

Several hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC boosted its position in shares of Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 479 shares during the period. True Wealth Design LLC acquired a new stake in shares of Flowserve in the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve during the third quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve during the third quarter worth approximately $29,000. Finally, Colonial Trust Co SC increased its holdings in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 478 shares during the period. Hedge funds and other institutional investors 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.