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 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% during mid-day trading on Tuesday, reaching $25.53. The company’s stock had a trading volume of 875,049 shares. The firm’s 50 day moving average is $28.84 and its 200-day moving average is $28.20. The company’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.
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SPX Flow (NYSE:FLOW) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $528.80 million for 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%. The company’s revenue was down 14.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 earnings per share. Equities analysts anticipate that SPX Flow will post $0.15 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. acquired a new position in shares of SPX Flow during the third quarter worth about $152,000. PineBridge Investments L.P. increased its position in shares of 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 shares of SPX Flow during the second quarter worth about $147,000. Teacher Retirement System of Texas increased its position in shares of 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. Finally, AXA acquired a new position in shares of SPX Flow during the second quarter worth about $177,000. Institutional investors own 83.39% of the company’s stock.
SPX Flow Company Profile
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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