Credit Suisse Group began coverage on shares of Flowserve (NYSE:FLS) in a report issued on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $55.00 price target on the industrial products company’s stock.

Several other research analysts also recently weighed in on FLS. BMO Capital Markets upped their target price on Flowserve from $42.00 to $50.00 and gave the stock a market perform rating in a research note on Thursday, August 9th. Northcoast Research reaffirmed a neutral rating on shares of Flowserve in a research note on Thursday, August 9th. Stifel Nicolaus upped their target price on Flowserve from $47.00 to $52.00 and gave the stock a hold rating in a research note on Monday, October 8th. Robert W. Baird reaffirmed a hold rating and set a $47.00 target price on shares of Flowserve in a research note on Friday, July 20th. Finally, Citigroup upped their target price on Flowserve from $47.00 to $52.00 and gave the stock a neutral rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Flowserve has a consensus rating of Hold and an average price target of $49.23.

NYSE:FLS traded up $0.62 during trading hours on Friday, reaching $50.04. The company had a trading volume of 1,669,971 shares, compared to its average volume of 1,298,262. Flowserve has a 1-year low of $37.71 and a 1-year high of $56.86. The company has a market capitalization of $7.16 billion, a PE ratio of 36.79, a PEG ratio of 1.87 and a beta of 1.53. The company has a current ratio of 2.25, a quick ratio of 1.61 and a debt-to-equity ratio of 0.89.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.08. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. The company had revenue of $973.13 million during the quarter, compared to the consensus estimate of $923.89 million. During the same period in the previous year, the company posted $0.22 earnings per share. Flowserve’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts predict that Flowserve will post 1.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 21st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.52%. The ex-dividend date was Thursday, September 20th. Flowserve’s dividend payout ratio is currently 55.88%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurich Insurance Group Ltd FI purchased a new stake in Flowserve in the 2nd quarter valued at $131,000. Point72 Hong Kong Ltd purchased a new stake in Flowserve in the 2nd quarter valued at $163,000. Tower Research Capital LLC TRC purchased a new stake in Flowserve in the 2nd quarter valued at $174,000. D.A. Davidson & CO. purchased a new stake in Flowserve in the 2nd quarter valued at $216,000. Finally, Visionary Asset Management Inc. purchased a new stake in Flowserve in the 3rd quarter valued at $218,000.

Flowserve Company Profile

Flowserve Corporation designs, 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).

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Analyst Recommendations for Flowserve (NYSE:FLS)

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