Credit Suisse Group AG Lowers SPX Flow Inc. (FLOW) to Underperform
Credit Suisse Group AG lowered shares of SPX Flow Inc. (NYSE:FLOW) from a neutral rating to an underperform rating in a research report released on Monday. The firm currently has $23.00 target price on the stock, down from their prior target price of $39.00. The analysts noted that the move was a valuation call.
FLOW has been the topic of several other reports. Zacks Investment Research lowered shares of SPX Flow from a buy rating to a hold rating in a report on Tuesday, October 18th. Stifel Nicolaus reiterated a buy rating and issued a $33.00 target price (down from $39.00) on shares of SPX Flow in a report on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $27.63.
Shares of SPX Flow (NYSE:FLOW) traded down 0.33% during midday trading on Monday, reaching $29.84. 9,811 shares of the company were exchanged. SPX Flow has a 52-week low of $14.85 and a 52-week high of $34.16. The stock has a 50-day moving average price of $27.35 and a 200 day moving average price of $28.11. The company’s market capitalization is $1.25 billion.
SPX Flow (NYSE:FLOW) last posted its earnings results on Wednesday, November 2nd. The company reported $0.34 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $466.80 million for the quarter, compared to analyst estimates of $64.15 million. SPX Flow had a negative net margin of 17.39% and a positive return on equity of 6.09%. The business’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. Equities research analysts expect that SPX Flow will post $0.15 EPS for the current fiscal year.
In other SPX Flow news, Director Robert F. Hull, Jr. bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was acquired at an average price of $28.45 per share, with a total value of $142,250.00. Following the completion of the transaction, the director now owns 16,570 shares in the company, valued at $471,416.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLOW. BNP Paribas Arbitrage SA increased its position in shares of SPX Flow by 126.1% in the second quarter. BNP Paribas Arbitrage SA now owns 15,543 shares of the company’s stock worth $405,000 after buying an additional 8,668 shares during the period. Alpha Windward LLC purchased a new position in shares of SPX Flow during the second quarter worth approximately $380,000. Nordea Investment Management AB purchased a new position in shares of SPX Flow during the second quarter worth approximately $2,221,000. Financial Architects Inc increased its position in shares of SPX Flow by 3,795.9% in the second quarter. Financial Architects Inc now owns 9,545 shares of the company’s stock worth $249,000 after buying an additional 9,300 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of SPX Flow by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the company’s stock worth $482,000 after buying an additional 100 shares during the period. 82.05% of the stock is 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.
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