Flow International Corp (FLOW) Raised to “Hold” at Zacks Investment Research
Flow International Corp (NASDAQ:FLOW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
FLOW has been the topic of a number of other reports. BidaskClub raised shares of Flow International Corp from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Stifel Nicolaus reissued a “buy” rating and set a $46.00 price target on shares of Flow International Corp in a research note on Friday, July 14th. Robert W. Baird reissued a “buy” rating and set a $50.00 price target on shares of Flow International Corp in a research note on Wednesday. Wolfe Research started coverage on shares of Flow International Corp in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $38.00 price target on shares of Flow International Corp in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $42.14.
Shares of Flow International Corp (FLOW) traded down 0.94% during midday trading on Wednesday, reaching $39.95. 142,085 shares of the company were exchanged. The company has a market capitalization of $1.69 billion and a P/E ratio of 332.92. Flow International Corp has a 52-week low of $22.34 and a 52-week high of $40.77. The stock has a 50-day moving average price of $37.67 and a 200 day moving average price of $37.67.
Flow International Corp (NASDAQ:FLOW) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The firm had revenue of $498.00 million for the quarter, compared to analysts’ expectations of $499.28 million. During the same quarter last year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts expect that Flow International Corp will post $0.15 EPS for the current fiscal year.
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In related news, VP Stephen A. Tsoris sold 5,850 shares of Flow International Corp stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $35.00, for a total value of $204,750.00. Following the sale, the vice president now owns 44,694 shares in the company, valued at $1,564,290. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A number of large investors have recently added to or reduced their stakes in the stock. Aperio Group LLC boosted its holdings in shares of Flow International Corp by 1.7% during the 2nd quarter. Aperio Group LLC now owns 61,227 shares of the company’s stock valued at $2,258,000 after buying an additional 996 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Flow International Corp by 5.5% during the 1st quarter. Russell Investments Group Ltd. now owns 28,146 shares of the company’s stock valued at $977,000 after buying an additional 1,468 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Flow International Corp by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 83,182 shares of the company’s stock valued at $3,068,000 after buying an additional 5,370 shares in the last quarter. Rex Capital Advisors LLC bought a new stake in shares of Flow International Corp during the 1st quarter valued at $315,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Flow International Corp during the 2nd quarter valued at $337,000.
About Flow International Corp
SPX FLOW, Inc provides various engineered solutions worldwide. 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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