SPX Flow Inc. (FLOW) Stock Rating Lowered by 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. “
SPX Flow (NYSE:FLOW) traded down 2.85% on Tuesday, hitting $25.53. 875,049 shares of the stock were exchanged. The firm’s market cap is $1.07 billion. SPX Flow has a 12 month low of $14.85 and a 12 month high of $37.97. The company has a 50-day moving average of $28.84 and a 200 day moving average of $28.20.
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SPX Flow (NYSE:FLOW) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.05. The company had revenue of $528.80 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 earnings per share. Equities research analysts expect 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 modified their holdings of the stock. Vanguard Group Inc. increased its position 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 increased its position 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 increased its position 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. increased its position 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 increased its position 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 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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