Robert W. Baird Boosts Flowserve (NYSE:FLS) Price Target to $71.00

Flowserve (NYSE:FLS) had its target price hoisted by equities research analysts at Robert W. Baird from $69.00 to $71.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target indicates a potential upside of 20.25% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Bank of America raised their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Stifel Nicolaus increased their price objective on shares of Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, January 24th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Flowserve Price Performance

FLS opened at $59.04 on Thursday. Flowserve has a 12-month low of $41.60 and a 12-month high of $65.08. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. 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 stock has a fifty day simple moving average of $60.75 and a two-hundred day simple moving average of $55.69.

Flowserve (NYSE:FLS) last issued 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). The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.11%. Research analysts predict that Flowserve will post 3.21 earnings per share for the current fiscal year.

Institutional Trading of Flowserve

Large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in shares of Flowserve during the 3rd quarter worth $25,000. Headlands Technologies LLC lifted its position in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 479 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Flowserve during the third quarter valued at about $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve in the third quarter worth about $29,000. Finally, Allworth Financial LP raised its stake in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the period. 93.93% of the stock is currently owned by institutional investors.

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.