Zacks Investment Research Downgrades Flow International Corp (FLOW) to Hold
Flow International Corp (NASDAQ:FLOW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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. “
Other research analysts have also recently issued research reports about the company. Royal Bank of Canada reissued a “hold” rating and issued a $35.00 target price on shares of Flow International Corp in a research note on Tuesday, April 11th. Credit Suisse Group reissued a “sell” rating and issued a $30.00 target price on shares of Flow International Corp in a research note on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Flow International Corp presently has a consensus rating of “Hold” and an average target price of $37.00.
Shares of Flow International Corp (NASDAQ FLOW) traded up 3.76% on Monday, reaching $37.85. The company’s stock had a trading volume of 145,169 shares. The stock has a 50 day moving average of $37.92 and a 200-day moving average of $35.21. The firm’s market cap is $1.60 billion. Flow International Corp has a 12 month low of $22.34 and a 12 month high of $40.66.
Flow International Corp (NASDAQ:FLOW) last released its earnings results on Wednesday, May 3rd. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. The company had revenue of $433.30 million during the quarter, compared to analyst estimates of $435.57 million. The firm’s revenue was down 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. On average, analysts anticipate that Flow International Corp will post $0.15 EPS for the current year.
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In other news, insider David Adam Kowalski sold 11,744 shares of the stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $36.00, for a total transaction of $422,784.00. Following the completion of the sale, the insider now directly owns 142,033 shares in the company, valued at $5,113,188. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A number of hedge funds have recently modified their holdings of FLOW. Karp Capital Management Corp bought a new stake in shares of Flow International Corp during the first quarter valued at approximately $2,091,000. Russell Investments Group Ltd. bought a new stake in shares of Flow International Corp during the fourth quarter valued at approximately $863,000. Finally, Rex Capital Advisors LLC bought a new stake in shares of Flow International Corp during the first quarter valued at approximately $315,000.
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