SPX Flow Inc. (FLOW) Lowered to “Hold” at Zacks Investment Research
SPX Flow Inc. (NYSE:FLOW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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 2.85% on Tuesday, hitting $25.53. The stock had a trading volume of 875,049 shares. SPX Flow has a 1-year low of $14.85 and a 1-year high of $37.97. The firm has a 50-day moving average of $28.84 and a 200 day moving average of $28.20. The company’s market capitalization is $1.07 billion.
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SPX Flow (NYSE:FLOW) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. SPX Flow had a negative net margin of 16.41% and a positive return on equity of 8.26%. The company earned $528.80 million during the quarter, compared to analyst estimates of $64.15 million. During the same quarter last year, the business posted $1.15 EPS. SPX Flow’s quarterly revenue was down 14.0% compared to the same quarter last year. On average, equities analysts anticipate that SPX Flow will post $0.15 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLOW. PineBridge Investments L.P. raised 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 in the last quarter. Invictus RG acquired a new position in SPX Flow during the second quarter worth $147,000. Teacher Retirement System of Texas raised 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 in the last quarter. First Mercantile Trust Co. acquired a new position in SPX Flow during the third quarter worth $152,000. Finally, AXA acquired a new position in SPX Flow during the second quarter worth $177,000. Institutional investors and hedge funds own 83.39% 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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