SPX Flow Inc (FLOW) Receives Average Rating of “Hold” from Brokerages
Shares of SPX Flow Inc (NYSE:FLOW) have been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $29.63.
Separately, Zacks Investment Research raised shares of SPX Flow from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th.
SPX Flow (NYSE:FLOW) traded down 0.47% on Wednesday, hitting $27.50. 238,971 shares of the company were exchanged. SPX Flow has a 52-week low of $14.85 and a 52-week high of $38.40. The firm has a 50 day moving average of $29.27 and a 200-day moving average of $28.15. The stock’s market cap is $1.15 billion.
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SPX Flow (NYSE:FLOW) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $528.80 million for the quarter, compared to analysts’ expectations of $64.15 million. SPX Flow had a negative net margin of 16.41% and a positive return on equity of 8.26%. SPX Flow’s revenue was down 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 earnings per share. On average, equities analysts expect that SPX Flow will post $0.15 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of SPX Flow by 22.6% in the second quarter. Vanguard Group Inc. now owns 3,405,584 shares of the company’s stock worth $88,783,000 after buying an additional 628,740 shares during the period. BlackRock Fund Advisors raised its stake in shares of SPX Flow by 27.4% in the second quarter. BlackRock Fund Advisors now owns 2,604,185 shares of the company’s stock worth $67,891,000 after buying an additional 560,580 shares during the period. Numeric Investors LLC raised its stake in shares of SPX Flow by 54.2% in the second quarter. Numeric Investors LLC now owns 1,350,357 shares of the company’s stock worth $35,204,000 after buying an additional 474,560 shares during the period. Prudential Financial Inc. raised its stake in shares of SPX Flow by 48.3% in the second quarter. Prudential Financial Inc. now owns 1,078,601 shares of the company’s stock worth $28,119,000 after buying an additional 351,173 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of SPX Flow by 29.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,403,555 shares of the company’s stock worth $36,591,000 after buying an additional 318,920 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.
About SPX Flow
SPX FLOW, Inc is a global supplier of engineered solutions. The Company engineers, designs, manufactures and markets products and solutions used to process, blend, filter, dry, meter and transport fluids with a focus on original equipment installation, including turn-key systems, modular systems and components, as well as aftermarket components and support services.
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