SPX FLOW (NYSE:FLOW) Raised to “Buy” at Zacks Investment Research

SPX FLOW (NYSE:FLOW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm currently has a $87.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.91% from the company’s previous close.

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. “

NYSE:FLOW traded down $0.33 during mid-day trading on Tuesday, reaching $77.05. The company’s stock had a trading volume of 162,628 shares, compared to its average volume of 212,882. The company has a current ratio of 1.65, a quick ratio of 1.20 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.21 billion, a P/E ratio of 49.39, a PEG ratio of 0.76 and a beta of 1.81. The firm’s fifty day moving average price is $76.62 and its two-hundred day moving average price is $69.89. SPX FLOW has a 12-month low of $40.96 and a 12-month high of $86.17.

SPX FLOW (NYSE:FLOW) last announced its quarterly earnings results on Wednesday, August 4th. The industrial products company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $381.60 million during the quarter, compared to analyst estimates of $367.19 million. SPX FLOW had a net margin of 4.38% and a return on equity of 9.29%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. Analysts predict that SPX FLOW will post 2.81 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of FLOW. Lazard Asset Management LLC boosted its position in SPX FLOW by 32.8% in the second quarter. Lazard Asset Management LLC now owns 672 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 166 shares during the last quarter. IndexIQ Advisors LLC boosted its holdings in shares of SPX FLOW by 3.6% in the second quarter. IndexIQ Advisors LLC now owns 6,388 shares of the industrial products company’s stock worth $417,000 after buying an additional 220 shares during the last quarter. Profund Advisors LLC grew its position in SPX FLOW by 4.7% during the second quarter. Profund Advisors LLC now owns 5,316 shares of the industrial products company’s stock valued at $347,000 after buying an additional 238 shares during the period. Stifel Financial Corp grew its position in SPX FLOW by 2.0% during the second quarter. Stifel Financial Corp now owns 14,944 shares of the industrial products company’s stock valued at $975,000 after buying an additional 297 shares during the period. Finally, Hancock Whitney Corp increased its holdings in SPX FLOW by 3.0% during the second quarter. Hancock Whitney Corp now owns 10,160 shares of the industrial products company’s stock valued at $662,000 after buying an additional 299 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors.

About SPX FLOW

SPX Flow, Inc engages in manufacturing and distributing industrial components. It operates through the following segments: Food & Beverage and Industrial. The Food and Beverage segment includes mixing, drying, evaporation, and separation systems and components, heat exchangers, and reciprocating and centrifugal pump technologies.

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