Flowserve (NYSE:FLS) Given New $80.00 Price Target at TD Cowen

Flowserve (NYSE:FLS) had its price objective increased by equities researchers at TD Cowen from $75.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. TD Cowen’s target price points to a potential upside of 15.48% from the stock’s previous close.

FLS has been the subject of a number of other reports. Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group lifted their price target on shares of Flowserve from $64.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday. Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Tuesday. UBS Group upped their price target on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus set a $84.00 price target on shares of Flowserve in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and an average target price of $75.63.

Flowserve Price Performance

Shares of Flowserve stock traded down $2.57 during trading on Tuesday, hitting $69.28. 829,608 shares of the company’s stock traded hands, compared to its average volume of 2,094,155. Flowserve has a twelve month low of $37.34 and a twelve month high of $72.08. The company has a market cap of $8.81 billion, a PE ratio of 20.15, a PEG ratio of 1.38 and a beta of 1.27. The firm’s fifty day moving average price is $54.93 and its 200 day moving average price is $52.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.50.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Analysts forecast that Flowserve will post 3.18 earnings per share for the current year.

Insider Buying and Selling at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the transaction, the insider directly owned 37,196 shares of the company’s stock, valued at $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Flowserve

Hedge funds have recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new position in Flowserve in the 2nd quarter valued at about $25,000. First Horizon Advisors Inc. bought a new position in Flowserve in the 2nd quarter valued at about $26,000. Hilltop National Bank bought a new position in Flowserve in the 2nd quarter valued at about $31,000. IFP Advisors Inc increased its holdings in Flowserve by 1,289.6% in the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after buying an additional 619 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in Flowserve by 149.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after buying an additional 418 shares during the period. 93.93% of the stock is 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.