Zacks Investment Research upgraded shares of SPX Flow (NYSE:FLOW) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. The brokerage currently has $45.00 price target 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. “
Separately, ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. SPX Flow currently has a consensus rating of Hold and a consensus target price of $41.83.
Shares of NYSE FLOW opened at $37.67 on Tuesday. SPX Flow has a twelve month low of $27.23 and a twelve month high of $54.13. The company has a quick ratio of 1.05, a current ratio of 1.53 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1.63 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 1.64 and a beta of 2.03. The firm has a 50-day simple moving average of $38.38.
SPX Flow (NYSE:FLOW) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. SPX Flow had a net margin of 2.30% and a return on equity of 10.42%. The company had revenue of $491.10 million during the quarter, compared to the consensus estimate of $482.11 million. During the same period in the prior year, the company earned $0.36 EPS. SPX Flow’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that SPX Flow will post 2.54 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Investors Research Corp acquired a new position in shares of SPX Flow in the 2nd quarter valued at about $29,000. NumerixS Investment Technologies Inc acquired a new position in SPX Flow in the fourth quarter worth approximately $33,000. PNC Financial Services Group Inc. increased its holdings in SPX Flow by 14.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,384 shares of the industrial products company’s stock worth $103,000 after buying an additional 429 shares during the last quarter. Acadian Asset Management LLC acquired a new position in SPX Flow in the fourth quarter worth approximately $132,000. Finally, Squar Milner Financial Services LLC increased its holdings in SPX Flow by 71.4% in the first quarter. Squar Milner Financial Services LLC now owns 4,717 shares of the industrial products company’s stock worth $150,000 after buying an additional 1,965 shares during the last quarter. 87.86% of the stock is owned by institutional investors.
About SPX 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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