SPX Flow Inc. (FLOW) Upgraded by Zacks Investment Research to “Buy”
SPX Flow Inc. (NYSE:FLOW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $30.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.15% from the company’s previous close.
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 midday trading on Thursday, hitting $26.99. The stock had a trading volume of 430,388 shares. The firm’s 50-day moving average price is $29.21 and its 200-day moving average price is $28.14. SPX Flow has a 1-year low of $14.85 and a 1-year high of $38.40. The stock’s market cap is $1.13 billion.
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SPX Flow (NYSE:FLOW) last posted its earnings results on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. SPX Flow had a positive return on equity of 8.26% and a negative net margin of 16.41%. The business earned $528.80 million during the quarter, compared to analysts’ expectations of $64.15 million. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s revenue was down 14.0% on a year-over-year basis. Analysts forecast that SPX Flow will post $0.15 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in SPX Flow by 84.6% in the first quarter. Aperio Group LLC now owns 71,822 shares of the company’s stock valued at $1,801,000 after buying an additional 32,911 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in SPX Flow by 806.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 140,500 shares of the company’s stock valued at $3,663,000 after buying an additional 125,000 shares during the last quarter. Synovus Financial Corp boosted its position in SPX Flow by 0.7% in the second quarter. Synovus Financial Corp now owns 10,713 shares of the company’s stock valued at $281,000 after buying an additional 70 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in SPX Flow during the second quarter valued at approximately $4,374,000. Finally, GSA Capital Partners LLP acquired a new position in SPX Flow during the second quarter valued at approximately $346,000. 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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