SPX Flow Inc. (FLOW) Stock Rating Lowered by Zacks Investment Research
SPX Flow Inc. (NYSE:FLOW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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) traded down 2.85% during mid-day trading on Tuesday, hitting $25.53. The stock had a trading volume of 875,049 shares. The stock’s market cap is $1.07 billion. The stock’s 50-day moving average price is $28.84 and its 200-day moving average price is $28.20. SPX Flow has a 12 month low of $14.85 and a 12 month high of $37.97.
SPX Flow (NYSE:FLOW) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $528.80 million for the quarter, compared to analysts’ expectations of $64.15 million. During the same period in the previous year, the firm earned $1.15 EPS. The business’s quarterly revenue was down 14.0% on a year-over-year basis. On average, analysts predict that SPX Flow will post $0.15 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in SPX Flow by 22.6% in the second quarter. Vanguard Group Inc. now owns 3,405,584 shares of the company’s stock worth $88,783,000 after buying an additional 628,740 shares during the last quarter. Alpine Investment Management LLC increased its stake in SPX Flow by 6.0% in the second quarter. Alpine Investment Management LLC now owns 2,625,177 shares of the company’s stock worth $68,438,000 after buying an additional 148,636 shares during the last quarter. BlackRock Fund Advisors increased its stake in SPX Flow by 27.4% in the second quarter. BlackRock Fund Advisors now owns 2,604,185 shares of the company’s stock worth $67,891,000 after buying an additional 560,580 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in SPX Flow by 29.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,403,555 shares of the company’s stock worth $36,591,000 after buying an additional 318,920 shares during the last quarter. Finally, Numeric Investors LLC increased its stake in SPX Flow by 54.2% in the second quarter. Numeric Investors LLC now owns 1,350,357 shares of the company’s stock worth $35,204,000 after buying an additional 474,560 shares during the last quarter. 83.39% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.