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SPX Flow (NYSE:FLOW) Cut to “Hold” at Zacks Investment Research

SPX Flow Inc logoZacks Investment Research downgraded shares of SPX Flow (NYSE:FLOW) from a buy rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

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. “

A number of other research firms also recently commented on FLOW. Vertical Research raised shares of SPX Flow from a hold rating to a buy rating in a report on Wednesday, July 29th. Royal Bank of Canada boosted their price objective on shares of SPX Flow from $26.00 to $31.00 and gave the stock an underperform rating in a report on Thursday, July 30th. Bank of America boosted their price objective on shares of SPX Flow from $28.00 to $33.00 and gave the stock an underperform rating in a report on Monday, August 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of SPX Flow from $44.00 to $48.00 and gave the stock a buy rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $39.75.

Shares of SPX Flow stock opened at $46.22 on Thursday. SPX Flow has a 52-week low of $15.74 and a 52-week high of $49.94. The company has a quick ratio of 2.00, a current ratio of 2.50 and a debt-to-equity ratio of 0.71. The company’s 50-day simple moving average is $44.06 and its 200-day simple moving average is $37.55. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -9.53, a price-to-earnings-growth ratio of 12.60 and a beta of 1.84.

SPX Flow (NYSE:FLOW) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.13. The firm had revenue of $308.10 million for the quarter, compared to the consensus estimate of $290.38 million. SPX Flow had a negative net margin of 15.43% and a positive return on equity of 6.51%. The firm’s revenue was down 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that SPX Flow will post 1 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Glenmede Trust Co. NA lifted its holdings in shares of SPX Flow by 85.9% in the second quarter. Glenmede Trust Co. NA now owns 740 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 342 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of SPX Flow by 8.3% during the second quarter. PNC Financial Services Group Inc. now owns 4,505 shares of the industrial products company’s stock valued at $169,000 after buying an additional 345 shares during the period. Simplex Trading LLC lifted its stake in shares of SPX Flow by 174.1% during the second quarter. Simplex Trading LLC now owns 773 shares of the industrial products company’s stock valued at $28,000 after buying an additional 491 shares during the period. California State Teachers Retirement System lifted its stake in shares of SPX Flow by 1.1% during the second quarter. California State Teachers Retirement System now owns 63,932 shares of the industrial products company’s stock valued at $2,394,000 after buying an additional 673 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of SPX Flow by 5.2% during the first quarter. BNP Paribas Arbitrage SA now owns 17,633 shares of the industrial products company’s stock valued at $501,000 after buying an additional 868 shares during the period. 96.12% of the stock is currently 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.

Further Reading: What is the Ex-Dividend Date in Investing?

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