Flowserve (NYSE:FLS) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Flowserve (NYSE:FLS) from a buy rating to a strong-buy rating in a report released on Sunday.

A number of other equities analysts have also recently issued reports on FLS. Citigroup increased their price objective on shares of Flowserve from $56.00 to $59.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. UBS Group increased their price target on Flowserve from $46.00 to $54.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Robert W. Baird boosted their price objective on Flowserve from $50.00 to $57.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Bank of America increased their target price on Flowserve from $48.00 to $57.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada boosted their price target on shares of Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Flowserve has a consensus rating of Moderate Buy and a consensus price target of $51.55.

Flowserve Trading Up 1.0 %

NYSE FLS opened at $48.92 on Friday. Flowserve has a one year low of $32.49 and a one year high of $49.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28. The business has a 50 day simple moving average of $45.81 and a 200 day simple moving average of $41.82. The stock has a market capitalization of $6.44 billion, a P/E ratio of 27.64, a P/E/G ratio of 1.25 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. Research analysts expect that Flowserve will post 2.62 earnings per share 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 issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.72%. Flowserve’s payout ratio is 47.46%.

Hedge Funds Weigh In On Flowserve

Several institutional investors have recently modified their holdings of FLS. Contravisory Investment Management Inc. bought a new position in Flowserve in the 4th quarter valued at $26,000. YHB Investment Advisors Inc. bought a new position in Flowserve during the first quarter valued at about $36,000. Raleigh Capital Management Inc. grew its position in Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after buying an additional 596 shares during the period. TFO Wealth Partners LLC increased its holdings in Flowserve by 14,663.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,613 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Flowserve in the first quarter worth about $87,000. 93.93% of the stock is 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.