SPX Flow’s (FLOW) Buy Rating Reiterated at Stifel Nicolaus
SPX Flow (NYSE:FLOW)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $62.00 target price on the industrial products company’s stock, up from their previous target price of $55.00. Stifel Nicolaus’ price target indicates a potential upside of 30.25% from the stock’s previous close.
Several other brokerages have also recently weighed in on FLOW. Wolfe Research cut SPX Flow from a “market perform” rating to an “underperform” rating in a report on Monday, November 20th. Seaport Global Securities reaffirmed a “buy” rating on shares of SPX Flow in a report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.33.
Shares of SPX Flow (FLOW) traded down $0.30 during midday trading on Tuesday, reaching $47.60. The company’s stock had a trading volume of 217,812 shares, compared to its average volume of 191,884. The firm has a market cap of $2,020.00 and a PE ratio of 89.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.67 and a quick ratio of 1.19. SPX Flow has a 52-week low of $31.06 and a 52-week high of $48.97.
In related news, insider David Adam Kowalski sold 24,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $41.94, for a total transaction of $1,006,560.00. Following the sale, the insider now owns 118,033 shares in the company, valued at approximately $4,950,304.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin Eamigh sold 6,944 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $45.67, for a total value of $317,132.48. Following the sale, the vice president now owns 43,013 shares in the company, valued at approximately $1,964,403.71. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its position in shares of SPX Flow by 6.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the industrial products company’s stock valued at $865,000 after buying an additional 1,100 shares during the last quarter. Convergence Investment Partners LLC bought a new stake in shares of SPX Flow in the 4th quarter valued at about $1,190,000. Stifel Financial Corp grew its position in shares of SPX Flow by 69.5% in the 3rd quarter. Stifel Financial Corp now owns 35,770 shares of the industrial products company’s stock valued at $1,379,000 after buying an additional 14,662 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of SPX Flow by 21.5% in the 3rd quarter. GSA Capital Partners LLP now owns 72,562 shares of the industrial products company’s stock valued at $2,798,000 after buying an additional 12,818 shares during the last quarter. Finally, Spitfire Capital LLC grew its position in shares of SPX Flow by 3.5% in the 3rd quarter. Spitfire Capital LLC now owns 263,984 shares of the industrial products company’s stock valued at $10,179,000 after buying an additional 8,884 shares during the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
About SPX Flow
SPX FLOW, Inc is a global supplier of engineered solutions. As of December 31, 2016, the Company had operations in over 30 countries and sales in over 150 countries around the world. The Company operates in three business segments: Food and Beverage, Power and Energy, and Industrial. Its product portfolio of pumps, valves, mixers, filters, air dryers, hydraulic tools, homogenizers, separators and heat exchangers, along with the related aftermarket parts and services, supports global industries, including food and beverage, oil and gas, power generation, chemical processing, compressed air and mining.
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