$510.74 Million in Sales Expected for SPX FLOW, Inc. (FLOW) This Quarter
Equities research analysts forecast that SPX FLOW, Inc. (NYSE:FLOW) will report sales of $510.74 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for SPX FLOW’s earnings, with the lowest sales estimate coming in at $506.60 million and the highest estimate coming in at $515.30 million. SPX FLOW reported sales of $495.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The firm is scheduled to announce its next earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that SPX FLOW will report full-year sales of $510.74 million for the current fiscal year, with estimates ranging from $1.93 billion to $1.94 billion. For the next financial year, analysts anticipate that the company will report sales of $2.04 billion per share, with estimates ranging from $2.01 billion to $2.07 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for SPX FLOW.
Several analysts recently commented on the stock. Susquehanna Bancshares upgraded shares of SPX FLOW from a “neutral” rating to a “positive” rating in a research report on Tuesday, August 8th. BidaskClub downgraded shares of SPX FLOW from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Stifel Nicolaus upped their price target on shares of SPX FLOW from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Wolfe Research downgraded shares of SPX FLOW from a “market perform” rating to an “underperform” rating in a research report on Monday, November 20th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of SPX FLOW in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.00.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Stifel Financial Corp grew its stake in shares of SPX FLOW by 69.5% during the 3rd quarter. Stifel Financial Corp now owns 35,770 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 14,662 shares during the period. GSA Capital Partners LLP grew its stake in shares of SPX FLOW by 21.5% during the 3rd quarter. GSA Capital Partners LLP now owns 72,562 shares of the industrial products company’s stock worth $2,798,000 after purchasing an additional 12,818 shares during the period. Finally, Spitfire Capital LLC grew its stake in shares of SPX FLOW by 3.5% during the 3rd quarter. Spitfire Capital LLC now owns 263,984 shares of the industrial products company’s stock worth $10,179,000 after purchasing an additional 8,884 shares during the period. 85.80% of the stock is currently owned by institutional investors.
SPX FLOW (NYSE:FLOW) traded up $0.38 during mid-day trading on Friday, reaching $45.15. 352,521 shares of the company traded hands, compared to its average volume of 166,701. SPX FLOW has a 1 year low of $30.33 and a 1 year high of $45.34. The stock has a market cap of $1,898.03, a P/E ratio of 37.31, a price-to-earnings-growth ratio of 1.25 and a beta of 2.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.19 and a current ratio of 1.67.
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About SPX FLOW
SPX FLOW, Inc is a global supplier of engineered solutions. As of December 31, 2016, the Company had operations in over 30 countries and sales in over 150 countries around the world. The Company operates in three business segments: Food and Beverage, Power and Energy, and Industrial. Its product portfolio of pumps, valves, mixers, filters, air dryers, hydraulic tools, homogenizers, separators and heat exchangers, along with the related aftermarket parts and services, supports global industries, including food and beverage, oil and gas, power generation, chemical processing, compressed air and mining.
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