SPX Flow (NYSE:FLOW) Downgraded by Zacks Investment Research
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. “
A number of other analysts have also recently commented on the company. TheStreet cut SPX Flow from a “b-” rating to a “c” rating in a research report on Monday, February 3rd. Vertical Research raised SPX Flow from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine lowered SPX Flow from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Barclays set a $40.00 price target on SPX Flow and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Buckingham Research raised their price target on SPX Flow from $45.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $49.67.
SPX Flow (NYSE:FLOW) last posted its earnings results on Tuesday, February 11th. The industrial products company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). SPX Flow had a return on equity of 9.06% and a net margin of 1.30%. The firm had revenue of $364.30 million for the quarter, compared to analyst estimates of $365.08 million. During the same quarter last year, the firm posted ($0.87) EPS. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, equities research analysts expect that SPX Flow will post 1.88 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLOW. Osborne Partners Capital Management LLC boosted its holdings in SPX Flow by 5.3% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 63,270 shares of the industrial products company’s stock valued at $2,497,000 after purchasing an additional 3,175 shares in the last quarter. State Street Corp boosted its holdings in SPX Flow by 0.6% in the 3rd quarter. State Street Corp now owns 1,236,923 shares of the industrial products company’s stock valued at $48,809,000 after purchasing an additional 6,968 shares in the last quarter. Evoke Wealth LLC purchased a new stake in SPX Flow in the 3rd quarter valued at approximately $35,000. Financial Architects Inc boosted its holdings in SPX Flow by 573.3% in the 3rd quarter. Financial Architects Inc now owns 781 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 665 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its holdings in SPX Flow by 1.8% in the 3rd quarter. Mason Street Advisors LLC now owns 14,452 shares of the industrial products company’s stock valued at $570,000 after purchasing an additional 254 shares in the last quarter. 92.57% of the stock is currently owned by hedge funds and other institutional investors.
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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