SPX Flow Inc. (NYSE:FLOW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $30.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 11.36% from the stock’s previous close.
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. “
SPX Flow (NYSE:FLOW) opened at 26.94 on Thursday. SPX Flow has a 12-month low of $14.85 and a 12-month high of $38.40. The company’s market cap is $1.13 billion. The firm’s 50-day moving average price is $29.06 and its 200-day moving average price is $28.15.
SPX Flow (NYSE:FLOW) last posted its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. SPX Flow had a positive return on equity of 8.26% and a negative net margin of 16.41%. The company had revenue of $528.80 million for the quarter, compared to analyst estimates of $64.15 million. During the same period last year, the company earned $1.15 earnings per share. The business’s revenue was down 14.0% compared to the same quarter last year. Analysts expect that SPX Flow will post $0.15 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. PineBridge Investments L.P. raised its position in SPX Flow by 3.9% in the second quarter. PineBridge Investments L.P. now owns 5,287 shares of the company’s stock valued at $138,000 after buying an additional 200 shares during the period. Invictus RG bought a new position in SPX Flow during the second quarter valued at $147,000. Teacher Retirement System of Texas raised its position in SPX Flow by 27.1% in the second quarter. Teacher Retirement System of Texas now owns 5,805 shares of the company’s stock valued at $151,000 after buying an additional 1,238 shares during the period. First Mercantile Trust Co. bought a new position in SPX Flow during the third quarter valued at $152,000. Finally, AXA bought a new position in SPX Flow during the second quarter valued at $177,000. Institutional investors own 83.41% of the company’s stock.
SPX Flow Company Profile
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.
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