SPX Flow (FLOW) Upgraded to Hold by Zacks Investment Research

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Zacks Investment Research upgraded shares of SPX Flow (NYSE:FLOW) from a sell rating to a hold rating in a report published on Monday morning, Zacks.com reports.

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 firms have also recently weighed in on FLOW. ValuEngine upgraded shares of SPX Flow from a sell rating to a hold rating in a report on Wednesday, February 20th. Royal Bank of Canada cut shares of SPX Flow from a sector perform rating to an underperform rating and reduced their price target for the company from $35.00 to $27.00 in a report on Thursday, January 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $43.17.

Shares of SPX Flow stock traded up $1.69 on Monday, hitting $39.99. The company had a trading volume of 6,819 shares, compared to its average volume of 249,523. The stock has a market capitalization of $1.53 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.53 and a beta of 2.20. SPX Flow has a twelve month low of $27.23 and a twelve month high of $54.13. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.75.

SPX Flow (NYSE:FLOW) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. The company had revenue of $491.10 million during the quarter, compared to analysts’ expectations of $482.11 million. SPX Flow had a net margin of 2.11% and a return on equity of 10.16%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. Equities analysts anticipate that SPX Flow will post 2.59 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors Inc. lifted its position in shares of SPX Flow by 3.3% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 10,119 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 326 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of SPX Flow by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 8,574 shares of the industrial products company’s stock worth $261,000 after purchasing an additional 334 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of SPX Flow by 14.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,384 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 429 shares in the last quarter. Neuburgh Advisers LLC lifted its position in shares of SPX Flow by 10.0% in the fourth quarter. Neuburgh Advisers LLC now owns 5,082 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 462 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its position in shares of SPX Flow by 10.0% in the fourth quarter. Flinton Capital Management LLC now owns 7,854 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 714 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

About SPX Flow

SPX FLOW, Inc provides various engineered solutions worldwide. It operates in three segments: Food and Beverage, Power and Energy, and Industrial. The Food and Beverage segment offers mixing, drying, evaporation, and separation systems and components; heat exchangers, and reciprocating and centrifugal pump technologies; and turn-key systems primarily under the Anhydro, APV, Bran+Luebbe, Gerstenberg Schroeder, LIGHTNIN, Seital, and Waukesha Cherry-Burrell brands.

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