Stifel Nicolaus Forecasts Strong Price Appreciation for Flowserve (NYSE:FLS) Stock

Flowserve (NYSE:FLS) had its target price lifted by analysts at Stifel Nicolaus from $75.00 to $77.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 39.04% from the company’s current price.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada lowered their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday. Mizuho lifted their target price on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America lifted their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup lowered their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, TD Cowen lifted their target price on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Price Performance

Shares of FLS opened at $55.38 on Thursday. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.21 and a beta of 1.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve has a one year low of $41.60 and a one year high of $65.08. The stock’s fifty day moving average is $60.57 and its 200-day moving average is $55.78.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Equities analysts anticipate that Flowserve will post 3.18 EPS for the current year.

Institutional Investors Weigh In On Flowserve

A number of institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. boosted its position in Flowserve by 1,577.1% during the 4th quarter. Sunbelt Securities Inc. now owns 1,392 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 1,309 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in Flowserve during the 4th quarter worth about $208,000. PharVision Advisers LLC acquired a new stake in Flowserve during the 4th quarter worth about $207,000. Delta Investment Management LLC boosted its position in Flowserve by 10.0% during the 4th quarter. Delta Investment Management LLC now owns 7,420 shares of the industrial products company’s stock worth $427,000 after acquiring an additional 676 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Flowserve by 62.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 599,483 shares of the industrial products company’s stock worth $34,482,000 after acquiring an additional 231,397 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.