Flow International Corp (FLOW) Cut to “Hold” at Zacks Investment Research
Flow International Corp (NASDAQ:FLOW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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. “
Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price target on shares of Flow International Corp in a research report on Tuesday, October 17th. BidaskClub raised shares of Flow International Corp from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 13th. Robert W. Baird reissued a “buy” rating and set a $50.00 price target on shares of Flow International Corp in a research report on Wednesday, October 4th. Royal Bank Of Canada reissued a “hold” rating and set a $38.00 price target on shares of Flow International Corp in a research report on Wednesday, September 6th. Finally, Susquehanna Bancshares Inc raised shares of Flow International Corp from a “neutral” rating to a “positive” rating and boosted their price target for the company from $41.00 to $42.00 in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $43.86.
Shares of Flow International Corp (FLOW) traded up $2.25 on Friday, reaching $41.52. 206,369 shares of the company’s stock traded hands.
Flow International Corp (NASDAQ:FLOW) last announced its earnings results on Wednesday, November 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). The business had revenue of $491.10 million for the quarter, compared to the consensus estimate of $493.53 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year.
In other Flow International Corp news, VP Stephen A. Tsoris sold 5,850 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $35.00, for a total value of $204,750.00. Following the transaction, the vice president now owns 44,694 shares of the company’s stock, valued at $1,564,290. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of hedge funds and other institutional investors have recently bought and sold shares of FLOW. Karp Capital Management Corp acquired a new position in Flow International Corp in the first quarter valued at about $2,091,000. Russell Investments Group Ltd. acquired a new position in Flow International Corp in the fourth quarter valued at about $863,000. Piedmont Investment Advisors LLC acquired a new position in Flow International Corp in the second quarter valued at about $337,000. Rex Capital Advisors LLC acquired a new position in Flow International Corp in the first quarter valued at about $315,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Flow International Corp in the third quarter valued at about $319,000.
Flow International Corp Company Profile
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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