TD Cowen Boosts Flowserve (NYSE:FLS) Price Target to $75.00

Flowserve (NYSE:FLS) had its price objective increased by TD Cowen from $60.00 to $75.00 in a report released on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the industrial products company’s stock.

Several other research firms have also recently weighed in on FLS. Jefferies Financial Group started coverage on Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Mizuho upped their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus raised their price objective on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $66.10.

Flowserve Trading Up 1.4 %

Shares of FLS stock opened at $63.61 on Thursday. Flowserve has a 12 month low of $39.69 and a 12 month high of $63.86. The company has a market cap of $8.36 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42. 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 business’s 50 day moving average is $59.85 and its two-hundred day moving average is $53.51.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. Equities analysts predict that Flowserve will post 2.71 EPS for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve’s payout ratio is 41.58%.

Institutional Trading of Flowserve

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new position in Flowserve during the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in shares of Flowserve in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve during the 3rd quarter worth approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve in the 3rd quarter valued at $29,000. Finally, Allworth Financial LP grew its position in Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 403 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.