Flowserve (NYSE:FLS) Price Target Raised to $47.00 at Morgan Stanley

Share on StockTwits

Flowserve (NYSE:FLS) had its price target boosted by Morgan Stanley from $46.00 to $47.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. They currently have an underweight rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on FLS. Zacks Investment Research raised HANNOVER RUECK/S from a sell rating to a hold rating in a research report on Friday, May 17th. Citigroup set a $12.00 price objective on Avaya and gave the company a hold rating in a report on Monday, July 8th. Finally, ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Flowserve currently has a consensus rating of Hold and a consensus target price of $50.08.

Shares of FLS opened at $52.79 on Wednesday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.62. The business’s fifty day simple moving average is $50.13. The company has a current ratio of 2.17, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. Flowserve has a 12 month low of $35.88 and a 12 month high of $56.86.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $890.05 million during the quarter, compared to analyst estimates of $943.79 million. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. Flowserve’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. Research analysts anticipate that Flowserve will post 2.2 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 21st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, June 20th. Flowserve’s dividend payout ratio (DPR) is 43.43%.

In other news, insider John Lenander sold 5,761 shares of Flowserve stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $49.32, for a total value of $284,132.52. Following the transaction, the insider now directly owns 16,568 shares in the company, valued at $817,133.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in Flowserve by 6.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,145 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 628 shares in the last quarter. Advisor Group Inc. boosted its holdings in Flowserve by 1,594.1% during the fourth quarter. Advisor Group Inc. now owns 10,995 shares of the industrial products company’s stock worth $418,000 after buying an additional 10,346 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Flowserve by 10.0% during the fourth quarter. State of Tennessee Treasury Department now owns 51,565 shares of the industrial products company’s stock worth $1,960,000 after buying an additional 4,701 shares in the last quarter. Northern Trust Corp boosted its holdings in Flowserve by 3.3% during the fourth quarter. Northern Trust Corp now owns 1,450,054 shares of the industrial products company’s stock worth $55,132,000 after buying an additional 46,145 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Flowserve by 0.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 84,804 shares of the industrial products company’s stock valued at $3,067,000 after buying an additional 505 shares during the period. 98.52% of the stock is owned by institutional investors and hedge funds.

Flowserve Company Profile

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

Recommended Story: How to trade on quiet period expirations

Analyst Recommendations for Flowserve (NYSE:FLS)

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.