Shares of SPX Flow Inc (NYSE:FLOW) shot up 8.3% on Friday . The stock traded as high as $38.16 and last traded at $37.63, 293,896 shares were traded during mid-day trading. An increase of 13% from the average session volume of 259,994 shares. The stock had previously closed at $34.75.
Several brokerages have recently weighed in on FLOW. Buckingham Research upped their target price on shares of SPX Flow from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Zacks Investment Research upgraded shares of SPX Flow from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 8th. ValuEngine upgraded shares of SPX Flow from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Seaport Global Securities downgraded shares of SPX Flow from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. SPX Flow has a consensus rating of “Hold” and a consensus target price of $40.80.
The firm has a market capitalization of $1.48 billion, a PE ratio of 15.87, a P/E/G ratio of 2.09 and a beta of 2.11. The firm’s 50 day moving average price is $36.64 and its two-hundred day moving average price is $36.98. The company has a quick ratio of 1.77, a current ratio of 2.12 and a debt-to-equity ratio of 0.68.
SPX Flow (NYSE:FLOW) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.09). The company had revenue of $385.40 million during the quarter, compared to analyst estimates of $500.94 million. SPX Flow had a net margin of 4.51% and a return on equity of 9.47%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. On average, sell-side analysts anticipate that SPX Flow Inc will post 1.81 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ACR Alpine Capital Research LLC raised its holdings in SPX Flow by 7.8% in the first quarter. ACR Alpine Capital Research LLC now owns 2,260,757 shares of the industrial products company’s stock valued at $72,118,000 after acquiring an additional 164,030 shares in the last quarter. Impax Asset Management Group plc raised its holdings in SPX Flow by 2.9% in the second quarter. Impax Asset Management Group plc now owns 1,853,675 shares of the industrial products company’s stock valued at $77,595,000 after acquiring an additional 52,952 shares in the last quarter. FMR LLC raised its holdings in SPX Flow by 1.4% in the first quarter. FMR LLC now owns 1,004,760 shares of the industrial products company’s stock valued at $32,051,000 after acquiring an additional 13,672 shares in the last quarter. Newport Trust Co acquired a new stake in SPX Flow in the second quarter valued at $31,839,000. Finally, Nuveen Asset Management LLC acquired a new stake in SPX Flow in the second quarter valued at $28,111,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.
About SPX Flow (NYSE:FLOW)
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.
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