SPX Flow Inc. (FLOW) Rating Increased 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 research report issued to clients and investors on Thursday. The firm presently has a $30.00 price target on the stock. Zacks Investment Research’s price objective suggests 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 mid-day trading on Thursday, reaching $26.99. The company’s stock had a trading volume of 430,388 shares. The firm’s market cap is $1.13 billion. SPX Flow has a one year low of $14.85 and a one year high of $38.40. The firm’s 50 day moving average is $29.21 and its 200 day moving average is $28.14.
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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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The firm earned $528.80 million during the quarter, compared to analyst estimates of $64.15 million. SPX Flow had a positive return on equity of 8.26% and a negative net margin of 16.41%. SPX Flow’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. On average, equities analysts anticipate that SPX Flow will post $0.15 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in FLOW. Aperio Group LLC increased its position in shares of SPX Flow by 84.6% in the first quarter. Aperio Group LLC now owns 71,822 shares of the company’s stock worth $1,801,000 after buying an additional 32,911 shares during the period. Pacad Investment Ltd. increased its position in shares of SPX Flow by 39.7% in the first quarter. Pacad Investment Ltd. now owns 11,599 shares of the company’s stock worth $291,000 after buying an additional 3,299 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of SPX Flow by 126.1% in the second quarter. BNP Paribas Arbitrage SA now owns 15,543 shares of the company’s stock worth $405,000 after buying an additional 8,668 shares during the period. Alpha Windward LLC acquired a new position in shares of SPX Flow during the second quarter worth approximately $380,000. Finally, Nordea Investment Management AB acquired a new position in shares of SPX Flow during the second quarter worth approximately $2,221,000. Hedge funds and other institutional investors 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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