Zacks Investment Research Upgrades SPX Flow (NYSE:FLOW) to “Buy”

Zacks Investment Research upgraded shares of SPX Flow (NYSE:FLOW) from a hold rating to a buy rating in a research report report published on Friday, Zacks.com reports. They currently have $55.00 price objective on the industrial products company’s stock.

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. “

Other equities research analysts have also recently issued research reports about the company. Buckingham Research raised their target price on SPX Flow from $45.00 to $53.00 and gave the stock a buy rating in a research note on Monday, November 4th. Barclays set a $40.00 target price on SPX Flow and gave the stock a hold rating in a report on Friday, November 1st. TheStreet raised SPX Flow from a c+ rating to a b- rating in a research note on Wednesday, October 30th. Finally, ValuEngine cut SPX Flow from a buy rating to a hold rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $43.75.

FLOW traded down $0.59 during trading on Friday, reaching $48.56. 115,164 shares of the stock traded hands, compared to its average volume of 256,174. The company has a quick ratio of 1.70, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $2.07 billion, a PE ratio of 20.93, a P/E/G ratio of 2.78 and a beta of 2.12. The stock’s 50-day moving average is $46.25 and its 200 day moving average is $39.83. SPX Flow has a 12 month low of $27.23 and a 12 month high of $49.52.

SPX Flow (NYSE:FLOW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.12. The firm had revenue of $383.50 million during the quarter, compared to analyst estimates of $365.37 million. SPX Flow had a return on equity of 9.06% and a net margin of 1.30%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. As a group, equities research analysts anticipate that SPX Flow will post 1.88 EPS for the current year.

Large investors have recently bought and sold shares of the business. Financial Architects Inc raised its holdings in shares of SPX Flow by 573.3% during the third 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 during the period. First Mercantile Trust Co. boosted its position in shares of SPX Flow by 390.0% during the 3rd quarter. First Mercantile Trust Co. now owns 980 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 780 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of SPX Flow during the 3rd quarter worth about $101,000. Quantamental Technologies LLC acquired a new stake in shares of SPX Flow in the 2nd quarter valued at about $118,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of SPX Flow by 38.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,750 shares of the industrial products company’s stock valued at $227,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 92.45% of the company’s stock.

SPX Flow Company Profile

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.

See Also: Commodities

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