SPX FLOW (NYSE:FLOW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage presently has a $87.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.91% from the company’s previous close.
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. “
FLOW traded down $0.33 during trading on Tuesday, hitting $77.05. 162,628 shares of the company traded hands, compared to its average volume of 212,882. SPX FLOW has a one year low of $40.96 and a one year high of $86.17. The stock’s fifty day moving average is $76.62 and its 200 day moving average is $69.89. The company has a quick ratio of 1.20, a current ratio of 1.65 and a debt-to-equity ratio of 0.38. The firm has a market cap of $3.21 billion, a P/E ratio of 49.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.81.
A number of institutional investors have recently made changes to their positions in FLOW. APG Asset Management N.V. grew its stake in SPX FLOW by 46.2% in the 1st quarter. APG Asset Management N.V. now owns 5,065,692 shares of the industrial products company’s stock valued at $272,960,000 after buying an additional 1,599,744 shares in the last quarter. BlackRock Inc. grew its position in shares of SPX FLOW by 4.9% in the first quarter. BlackRock Inc. now owns 6,748,263 shares of the industrial products company’s stock valued at $427,368,000 after purchasing an additional 315,146 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of SPX FLOW by 56.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 438,370 shares of the industrial products company’s stock valued at $13,984,000 after purchasing an additional 157,943 shares during the period. Royal Bank of Canada lifted its holdings in SPX FLOW by 66.6% during the 2nd quarter. Royal Bank of Canada now owns 288,098 shares of the industrial products company’s stock worth $18,795,000 after purchasing an additional 115,158 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in SPX FLOW by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,465,415 shares of the industrial products company’s stock worth $291,324,000 after purchasing an additional 111,796 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.
About SPX FLOW
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.
Recommended Story: Correction
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SPX FLOW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX FLOW and related companies with MarketBeat.com's FREE daily email newsletter.