SPX FLOW (NYSE:FLOW) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of SPX FLOW (NYSE:FLOW) from a strong-buy rating to a sell rating in a report issued on Tuesday, 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 issued reports on FLOW. Barclays lifted their target price on SPX FLOW from $75.00 to $86.00 and gave the company an equal weight rating in a research report on Tuesday, January 4th. Stifel Nicolaus downgraded SPX FLOW from a buy rating to a hold rating in a research report on Monday, December 13th. Robert W. Baird downgraded SPX FLOW from an outperform rating to a neutral rating in a research report on Monday, December 13th. Royal Bank of Canada boosted their price objective on SPX FLOW from $77.00 to $79.00 and gave the stock a sector perform rating in a report on Thursday, November 11th. Finally, Bank of America began coverage on SPX FLOW in a report on Monday, September 27th. They set an underperform rating and a $75.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, SPX FLOW has an average rating of Hold and an average target price of $80.40.

NYSE:FLOW opened at $85.67 on Tuesday. SPX FLOW has a 12-month low of $52.30 and a 12-month high of $88.55. The company has a quick ratio of 1.18, a current ratio of 1.65 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.60 billion, a P/E ratio of 46.81 and a beta of 1.66. The stock’s fifty day simple moving average is $84.50 and its 200-day simple moving average is $78.30.

SPX FLOW (NYSE:FLOW) last posted its earnings results on Wednesday, November 10th. The industrial products company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. SPX FLOW had a return on equity of 10.45% and a net margin of 5.04%. The firm had revenue of $389.60 million for the quarter, compared to analyst estimates of $384.00 million. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, equities research analysts expect that SPX FLOW will post 2.97 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of SPX FLOW by 2.6% during the second quarter. Vanguard Group Inc. now owns 4,465,415 shares of the industrial products company’s stock worth $291,324,000 after buying an additional 111,796 shares in the last quarter. State Street Corp boosted its position in SPX FLOW by 3.0% during the second quarter. State Street Corp now owns 1,364,597 shares of the industrial products company’s stock valued at $89,149,000 after acquiring an additional 39,581 shares during the last quarter. FMR LLC boosted its position in SPX FLOW by 1.4% during 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 during the last quarter. Robeco Schweiz AG boosted its position in SPX FLOW by 168.6% during the third quarter. Robeco Schweiz AG now owns 812,700 shares of the industrial products company’s stock valued at $59,408,000 after acquiring an additional 510,100 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of SPX FLOW by 169.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 792,000 shares of the industrial products company’s stock worth $57,895,000 after acquiring an additional 498,000 shares during the last quarter. Institutional investors and hedge funds own 95.60% of the company’s stock.

SPX FLOW Company Profile

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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