Flowserve (NYSE:FLS) Price Target Increased to $57.00 by Analysts at Robert W. Baird

Flowserve (NYSE:FLS) had its target price boosted by Robert W. Baird from $50.00 to $57.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

FLS has been the subject of several other reports. StockNews.com cut shares of Flowserve from a strong-buy rating to a buy rating in a report on Saturday, April 27th. Citigroup increased their price target on Flowserve from $50.00 to $56.00 and gave the company a buy rating in a research note on Monday, April 8th. Bank of America boosted their price objective on Flowserve from $48.00 to $57.00 and gave the stock a buy rating in a research note on Tuesday. Mizuho raised their target price on Flowserve from $48.00 to $50.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Flowserve has an average rating of Moderate Buy and an average target price of $51.20.

Flowserve Stock Performance

Shares of NYSE FLS opened at $47.25 on Wednesday. Flowserve has a 12-month low of $32.49 and a 12-month high of $49.35. The company has a market cap of $6.22 billion, a PE ratio of 26.70, a P/E/G ratio of 1.33 and a beta of 1.42. The stock has a 50 day simple moving average of $45.24 and a 200-day simple moving average of $41.47. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that Flowserve will post 2.57 EPS for the current year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is 47.46%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLS. Contravisory Investment Management Inc. purchased a new position in Flowserve during the fourth quarter valued at approximately $26,000. YHB Investment Advisors Inc. purchased a new position in shares of Flowserve during the 1st quarter valued at $36,000. Raleigh Capital Management Inc. grew its holdings in shares of Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 596 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of Flowserve by 14,663.6% in the fourth 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 during the last quarter. Finally, CWM LLC grew its stake in Flowserve by 153.0% in the third 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 in the last quarter. 93.93% of the stock is 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.