Robert W. Baird Increases Flowserve (NYSE:FLS) Price Target to $66.00

Flowserve (NYSE:FLS) had its price target lifted by Robert W. Baird from $65.00 to $66.00 in a research note released on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on FLS. Royal Bank of Canada lifted their price target on Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $60.00 price objective on shares of Flowserve in a research note on Tuesday, September 24th. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Mizuho raised their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus raised their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and an average target price of $60.10.

Flowserve Stock Down 0.7 %

Shares of FLS stock opened at $53.75 on Wednesday. Flowserve has a 1 year low of $35.80 and a 1 year high of $55.90. The stock has a market cap of $7.08 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The business’s fifty day moving average is $50.60 and its 200-day moving average is $48.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts expect that Flowserve will post 2.76 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Institutional Investors Weigh In On Flowserve

A number of institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its holdings in Flowserve by 14.0% during the third quarter. Janney Montgomery Scott LLC now owns 35,466 shares of the industrial products company’s stock valued at $1,833,000 after purchasing an additional 4,351 shares in the last quarter. Jacobson & Schmitt Advisors LLC boosted its holdings in Flowserve by 4.1% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 235,915 shares of the industrial products company’s stock valued at $12,194,000 after purchasing an additional 9,251 shares in the last quarter. US Bancorp DE boosted its holdings in Flowserve by 9.6% during the third quarter. US Bancorp DE now owns 5,433 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 475 shares in the last quarter. Roubaix Capital LLC acquired a new stake in Flowserve during the third quarter valued at approximately $4,859,000. Finally, New York State Teachers Retirement System boosted its holdings in Flowserve by 12.8% during the third quarter. New York State Teachers Retirement System now owns 149,371 shares of the industrial products company’s stock valued at $7,721,000 after purchasing an additional 16,926 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.