SPX Flow Inc. (FLOW) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of SPX Flow Inc. (NYSE:FLOW) from a hold rating to a buy rating in a report released on Thursday. Zacks Investment Research currently has $30.00 target price on the stock.
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) opened at 25.53 on Thursday. The company’s market capitalization 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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/spx-flow-inc-flow-raised-to-buy-at-zacks-investment-research.html
SPX Flow (NYSE:FLOW) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, beating the Zacks’ 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 had revenue of $528.80 million for the quarter, compared to analyst estimates of $64.15 million. During the same quarter last year, the firm posted $1.15 earnings per share. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. Analysts forecast that SPX Flow will post $0.15 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the company. Synovus Financial Corp raised its position in shares of SPX Flow by 0.7% in the second quarter. Synovus Financial Corp now owns 10,713 shares of the company’s stock worth $281,000 after buying an additional 70 shares during the period. BlackRock Advisors LLC raised its position in shares of SPX Flow by 0.4% in the second quarter. BlackRock Advisors LLC now owns 19,519 shares of the company’s stock worth $509,000 after buying an additional 75 shares during the period. Louisiana State Employees Retirement System raised its position in shares of SPX Flow by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the company’s stock worth $482,000 after buying an additional 100 shares during the period. PineBridge Investments L.P. raised 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 during the period. Finally, Arizona State Retirement System raised its position in shares of SPX Flow by 0.9% in the second quarter. Arizona State Retirement System now owns 21,600 shares of the company’s stock worth $563,000 after buying an additional 200 shares during the period. 83.39% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SPX Flow Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX Flow Inc. and related companies with MarketBeat.com's FREE daily email newsletter.