SPX Flow (FLOW) Price Target Cut to $60.00

SPX Flow (NYSE:FLOW) had its target price dropped by equities researchers at Stifel Nicolaus from $62.00 to $60.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 29.87% from the stock’s previous close.

FLOW has been the topic of several other research reports. Seaport Global Securities reissued a “buy” rating on shares of SPX Flow in a research report on Wednesday, November 1st. UBS Group downgraded SPX Flow from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research report on Monday, January 22nd. They noted that the move was a valuation call. Robert W. Baird reissued a “buy” rating and set a $54.00 target price on shares of SPX Flow in a research report on Wednesday. Wolfe Research downgraded SPX Flow from a “market perform” rating to an “underperform” rating in a research report on Monday, November 20th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $50.00 price objective on shares of SPX Flow in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. SPX Flow currently has a consensus rating of “Hold” and a consensus target price of $50.00.

SPX Flow (NYSE:FLOW) opened at $46.20 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 1.06. SPX Flow has a twelve month low of $31.06 and a twelve month high of $48.97. The company has a market capitalization of $1,849.70, a P/E ratio of 88.85, a P/E/G ratio of 0.60 and a beta of 2.43.

SPX Flow (NYSE:FLOW) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. SPX Flow had a return on equity of 6.17% and a net margin of 1.17%. The business had revenue of $529.20 million for the quarter, compared to the consensus estimate of $515.37 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. analysts anticipate that SPX Flow will post 1.24 earnings per share for the current year.

In other SPX Flow news, VP Kevin Eamigh sold 6,944 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $45.67, for a total value of $317,132.48. Following the completion of the sale, the vice president now directly owns 43,013 shares in the company, valued at approximately $1,964,403.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David Adam Kowalski sold 24,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $41.94, for a total value of $1,006,560.00. Following the completion of the sale, the insider now owns 118,033 shares of the company’s stock, valued at $4,950,304.02. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of FLOW. CIBC Asset Management Inc purchased a new stake in shares of SPX Flow during the 4th quarter worth $254,000. Teacher Retirement System of Texas purchased a new stake in shares of SPX Flow during the 4th quarter worth $673,000. Louisiana State Employees Retirement System lifted its stake in shares of SPX Flow by 6.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the industrial products company’s stock worth $865,000 after purchasing an additional 1,100 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of SPX Flow during the 4th quarter worth $1,190,000. Finally, Stifel Financial Corp lifted 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 last quarter. Institutional investors and hedge funds own 86.98% of the company’s stock.

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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.

Analyst Recommendations for SPX Flow (NYSE:FLOW)

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