SPX Flow Inc. (FLOW) Lifted to “Buy” at Zacks Investment Research
SPX Flow Inc. (NYSE:FLOW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $30.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.15% from the company’s current price.
According to Zacks, “SPX FLOW, Inc. is a supplier of engineered flow components, process equipment and turn-key systems, along with the related aftermarket parts and services. The Company’s operating segment consists of Food and Beverage, Power and Energy and Industrial. Food and Beverage segment offers mixing, drying, evaporation and separation systems and components, heat exchangers and reciprocating and centrifugal pump technologies. Power and Energy segment primarily serves oil and gas industry and nuclear and other conventional power industries. Industrial segment primarily serves chemical, air treatment, mining, pharmaceutical, marine, shipbuilding, infrastructure construction, automotive and water treatment industries. SPX FLOW, Inc. is based in Charlotte, North Carolina. “
Shares of SPX Flow (NYSE:FLOW) traded down 1.35% during trading on Thursday, hitting $26.99. The stock had a trading volume of 430,388 shares. The stock’s market cap is $1.13 billion. The stock’s 50 day moving average price is $29.21 and its 200-day moving average price is $28.14. SPX Flow has a one year low of $14.85 and a one year high of $38.40.
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SPX Flow (NYSE:FLOW) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.05. The firm earned $528.80 million during 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%. The firm’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter last year, the company posted $1.15 EPS. Analysts expect that SPX Flow will post $0.15 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. PineBridge Investments L.P. boosted its position in SPX Flow by 3.9% in the second quarter. PineBridge Investments L.P. now owns 5,287 shares of the company’s stock worth $138,000 after buying an additional 200 shares during the last quarter. Invictus RG bought a new position in SPX Flow during the second quarter worth $147,000. Teacher Retirement System of Texas boosted its position in SPX Flow by 27.1% in the second quarter. Teacher Retirement System of Texas now owns 5,805 shares of the company’s stock worth $151,000 after buying an additional 1,238 shares during the last quarter. First Mercantile Trust Co. bought a new position in SPX Flow during the third quarter worth $152,000. Finally, AXA bought a new position in SPX Flow during the second quarter worth $177,000. 83.41% of the stock is owned by hedge funds and other institutional investors.
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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