SPX FLOW (NYSE: FLOW) rating downgraded by Zacks Investment Research
FLUX SPX (NYSE: FLOW) was downgraded by Zacks Investment Research from a “buy” rating to a “custody” rating in a note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, “SPX FLOW, Inc. is a supplier of turnkey engineering flow components, process equipment and systems, as well as related spare parts and services. The food and beverage segment offers mixing, drying, evaporation and separation systems and components, heat exchangers and reciprocating and centrifugal pump technologies. The energy and energy segment mainly serves the oil and gas industry, as well as the nuclear and conventional energy industries. The industrial segment mainly serves the chemicals, air treatment, mining, pharmaceutical, marine, shipbuilding, infrastructure construction, automotive and water treatment industries. SPX FLOW, Inc. is based in Charlotte, North Carolina. “
Separately, Bank of America launched a hedge on shares of SPX FLOW in a research note on Monday, September 27. They set an “underperformance” rating and a target price of $ 75 for the stock. Two investment analysts gave the stock a sell rating and four gave the company a conservation rating. According to MarketBeat, the company has an average “Hold” rating and a consensus price target of $ 72.40.
SPX FLOW shares opened at $ 73.98 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.65, and a debt ratio of 0.38. The company has a market cap of $ 3.08 billion, a price / earnings ratio of 47.42, a price / earnings-growth ratio of 0.76, and a beta of 1.82. SPX FLOW has a minimum of $ 41.00 over 52 weeks and a maximum of $ 86.17 over 52 weeks. The company’s 50-day simple moving average is $ 78.40 and its 200-day simple moving average is $ 70.81.
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SPX FLOW (NYSE: FLOW) last released its quarterly results on Wednesday, August 4. The industrials company reported earnings per share (EPS) of $ 0.63 for the quarter, beating the consensus estimate of $ 0.59 by $ 0.04 by Thomson Reuters. SPX FLOW had a net margin of 4.38% and a return on equity of 9.29%. The company posted revenue of $ 381.60 million for the quarter, compared to a consensus estimate of $ 367.19 million. In the same quarter of the previous year, the company achieved EPS of $ 0.27. The company’s quarterly revenue grew 23.9% year-over-year. Equity research analysts predict that SPX FLOW will post 2.77 EPS for the current year.
A number of large investors have recently bought and sold shares of FLOW. Parametric Portfolio Associates LLC increased its stake in the shares of SPX FLOW by 16.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 161,053 shares of the industrial products company valued at $ 10,507,000 after purchasing an additional 22,351 shares in the last quarter. Comerica Bank strengthened its position in SPX FLOW by 83.2% in the second quarter. Comerica Bank now owns 78,048 shares of the industrial products company valued at $ 6,069,000 after purchasing an additional 35,455 shares in the last quarter. Morgan Stanley increased its position in SPX FLOW shares by 20.4% during the 2nd quarter. Morgan Stanley now owns 255,131 shares of the industrials company valued at $ 16,646,000 after purchasing an additional 43,238 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new position in SPX FLOW during the 2nd quarter for a value of approximately $ 618,000. Finally, Invesco Ltd. increased its position in SPX FLOW by 23.6% during the second quarter. Invesco Ltd. Now owns 150,929 shares of the industrials company valued at $ 9,847,000 after purchasing an additional 28,858 shares last quarter. 94.85% of the shares are currently held by institutional investors.
About SPX FLOW
SPX Flow, Inc engages in the manufacture and distribution of 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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