Flowserve Corp (NYSE:FLS) has received an average recommendation of “Hold” from the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $43.36.
FLS has been the topic of several recent research reports. KeyCorp reiterated a “hold” rating on shares of Flowserve in a research note on Thursday, September 28th. Robert W. Baird reiterated a “hold” rating and issued a $43.00 price target on shares of Flowserve in a research note on Wednesday, October 4th. Citigroup reiterated a “neutral” rating and issued a $48.00 price target (up from $46.00) on shares of Flowserve in a research note on Monday, October 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 price target on shares of Flowserve in a research note on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of Flowserve from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 18th.
Shares of Flowserve (FLS) traded up $1.24 during mid-day trading on Monday, reaching $43.42. 1,200,400 shares of the company’s stock traded hands, compared to its average volume of 874,833. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. Flowserve has a 12-month low of $37.51 and a 12-month high of $52.10. The firm has a market cap of $5,670.00, a price-to-earnings ratio of 35.30, a P/E/G ratio of 2.58 and a beta of 1.53.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, January 4th. Flowserve’s dividend payout ratio (DPR) is presently 61.79%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC grew its position in shares of Flowserve by 2.5% in the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 126 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Flowserve during the 3rd quarter worth about $1,799,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Flowserve during the 2nd quarter worth about $840,000. Permian Investment Partners LP bought a new stake in shares of Flowserve during the 3rd quarter worth about $28,535,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Flowserve during the 2nd quarter worth about $458,000.
WARNING: This report was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://www.chaffeybreeze.com/2018/01/04/brokerages-set-flowserve-corp-fls-price-target-at-43-09.html.
Flowserve Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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.