Zacks Investment Research upgraded shares of SPX Flow Inc. (NYSE:FLOW) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $30.00 target price on the stock.
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. “
Shares of SPX Flow (NYSE:FLOW) opened at 26.94 on Thursday. SPX Flow has a one year low of $14.85 and a one year high of $38.40. The stock’s 50 day moving average is $29.06 and its 200-day moving average is $28.15. The stock’s market cap is $1.13 billion.
SPX Flow (NYSE:FLOW) last announced its earnings results on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.05. The business earned $528.80 million during the quarter, compared to the consensus estimate of $64.15 million. SPX Flow had a negative net margin of 16.41% and a positive return on equity of 8.26%. The firm’s revenue was down 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. On average, equities analysts forecast that SPX Flow will post $0.15 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. purchased a new position in shares of SPX Flow during the third quarter worth approximately $152,000. Mason Street Advisors LLC bought a new position in SPX Flow during the second quarter valued at about $212,000. Schwab Charles Investment Management Inc. increased its position in SPX Flow by 100.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 150,958 shares of the company’s stock valued at $3,936,000 after buying an additional 75,684 shares during the period. Legal & General Group Plc increased its position in SPX Flow by 55.9% in the second quarter. Legal & General Group Plc now owns 44,925 shares of the company’s stock valued at $1,167,000 after buying an additional 16,109 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in SPX Flow by 2,056.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 25,794 shares of the company’s stock valued at $672,000 after buying an additional 24,598 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.
About SPX Flow
SPX FLOW, Inc is a global supplier of engineered solutions. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SPX Flow Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX Flow Inc. and related companies with MarketBeat.com's FREE daily email newsletter.