Flowserve (NYSE:FLS) PT Raised to $57.00 at Bank of America

Flowserve (NYSE:FLS) had its price objective upped by stock analysts at Bank of America from $48.00 to $57.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price target points to a potential upside of 20.63% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Citigroup increased their price objective on Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 27th. Mizuho upped their price objective on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Royal Bank of Canada increased 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. Finally, Robert W. Baird boosted their target price on Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.20.

Flowserve Stock Up 0.2 %

Shares of NYSE FLS opened at $47.25 on Tuesday. Flowserve has a 52-week low of $32.49 and a 52-week high of $49.35. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. The company’s 50-day simple moving average is $45.24 and its 200-day simple moving average is $41.47. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.61% and a net margin of 5.29%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $0.40 EPS. Flowserve’s revenue was up 10.9% compared to the same quarter last year. Equities analysts predict that Flowserve will post 2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Several large investors have recently modified their holdings of FLS. Contravisory Investment Management Inc. purchased a new position in Flowserve during the 4th quarter valued at about $26,000. YHB Investment Advisors Inc. acquired a new stake in Flowserve in the first quarter valued at approximately $36,000. Raleigh Capital Management Inc. lifted its stake in Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 596 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in Flowserve by 14,663.6% during the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,613 shares in the last quarter. Finally, CWM LLC increased its position in shares of Flowserve by 153.0% in the 3rd quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 1,201 shares during the last quarter. Institutional investors and hedge funds 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.