Flowserve (NYSE:FLS) Price Target Raised to $70.00 at Mizuho

Flowserve (NYSE:FLS) had its price target hoisted by Mizuho from $65.00 to $70.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price target indicates a potential upside of 21.59% from the stock’s current price.

A number of other research firms also recently issued reports on FLS. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. TD Cowen upped their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Robert W. Baird upped their price objective on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America boosted their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average target price of $68.40.

Flowserve Price Performance

NYSE FLS traded down $1.43 during trading on Thursday, hitting $57.57. 419,826 shares of the company’s stock were exchanged, compared to its average volume of 1,288,232. The stock’s 50 day moving average price is $60.75 and its two-hundred day moving average price is $55.69. Flowserve has a fifty-two week low of $41.60 and a fifty-two week high of $65.08. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market cap of $7.56 billion, a PE ratio of 26.90, a P/E/G ratio of 1.28 and a beta of 1.42.

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

Institutional Trading of Flowserve

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after acquiring an additional 37,132 shares during the last quarter. Vestcor Inc bought a new stake in Flowserve in the third quarter worth about $714,000. Stifel Financial Corp boosted its position in shares of Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after buying an additional 29,979 shares during the period. Algert Global LLC grew its stake in shares of Flowserve by 130.3% during the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock valued at $5,638,000 after buying an additional 61,710 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after buying an additional 422,141 shares during the period. 93.93% of the stock is currently owned by institutional investors.

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.