Flowserve (NYSE:FLS) Stock Rating Reaffirmed by Mizuho

Flowserve (NYSE:FLS)‘s stock had its “buy” rating reiterated by equities researchers at Mizuho in a report issued on Wednesday, Benzinga reports. They currently have a $53.00 price target on the industrial products company’s stock, up from their previous price target of $50.00. Mizuho’s target price would indicate a potential upside of 11.53% from the stock’s previous close.

Several other research analysts also recently commented on the company. Citigroup boosted their target price on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Robert W. Baird increased their target price on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 27th. Royal Bank of Canada raised their price target on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus boosted their price objective on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.55.

Flowserve Price Performance

Shares of FLS stock traded up $0.25 during trading hours on Wednesday, hitting $47.52. The company had a trading volume of 964,845 shares, compared to its average volume of 1,116,238. The firm’s fifty day moving average is $45.45 and its 200 day moving average is $41.57. Flowserve has a 12 month low of $32.49 and a 12 month high of $49.35. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.25 and a beta of 1.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.88.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share 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 business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts predict that Flowserve will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLS. Vanguard Group Inc. grew its position in shares of Flowserve by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after purchasing an additional 144,704 shares during the period. Wellington Management Group LLP increased its position in shares of Flowserve by 2.5% during the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after acquiring an additional 246,636 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Flowserve by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock worth $82,595,000 after acquiring an additional 157,125 shares during the period. Norges Bank bought a new stake in Flowserve in the 4th quarter valued at $59,261,000. Finally, Gabelli Funds LLC increased its holdings in Flowserve by 0.3% during the 3rd quarter. Gabelli Funds LLC now owns 1,296,034 shares of the industrial products company’s stock worth $51,543,000 after purchasing an additional 3,540 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.