Flow International Corp (FLOW) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Flow International Corp (NASDAQ:FLOW) from a sell rating to a hold rating in a research note published on Wednesday morning.
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. “
Several other equities analysts have also weighed in on FLOW. Susquehanna Bancshares Inc upgraded Flow International Corp from a neutral rating to a positive rating and lifted their price target for the company from $41.00 to $42.00 in a research note on Tuesday, August 8th. Robert W. Baird restated a buy rating and issued a $50.00 price target on shares of Flow International Corp in a research note on Wednesday. UBS AG upgraded Flow International Corp from a neutral rating to a positive rating in a research note on Tuesday, August 8th. Stifel Nicolaus restated a buy rating on shares of Flow International Corp in a research note on Thursday, August 3rd. Finally, Wolfe Research assumed coverage on Flow International Corp in a research note on Tuesday, July 11th. They issued a market perform rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Flow International Corp presently has a consensus rating of Buy and an average price target of $42.14.
Flow International Corp (FLOW) traded up 0.63% during trading on Wednesday, hitting $39.76. The stock had a trading volume of 131,178 shares. The company has a market cap of $1.68 billion and a price-to-earnings ratio of 331.33. The firm’s 50-day moving average price is $37.98 and its 200-day moving average price is $37.98. Flow International Corp has a 52-week low of $22.34 and a 52-week high of $40.77.
Flow International Corp (NASDAQ:FLOW) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.04). The company had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $499.28 million. During the same period in the previous year, the company posted $0.46 EPS. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts predict that Flow International Corp will post $0.15 EPS for the current fiscal year.
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In related news, VP Stephen A. Tsoris sold 5,850 shares of Flow International Corp stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $35.00, for a total value of $204,750.00. Following the sale, the vice president now directly owns 44,694 shares in the company, valued at approximately $1,564,290. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Hedge funds have recently bought and sold shares of the stock. Rex Capital Advisors LLC acquired a new stake in Flow International Corp in the 1st quarter worth about $315,000. Piedmont Investment Advisors LLC acquired a new stake in Flow International Corp in the 2nd quarter worth about $337,000. Russell Investments Group Ltd. boosted its holdings in Flow International Corp by 5.5% in the 1st quarter. Russell Investments Group Ltd. now owns 28,146 shares of the company’s stock worth $977,000 after buying an additional 1,468 shares during the last quarter. Aperio Group LLC boosted its holdings in Flow International Corp by 1.7% in the 2nd quarter. Aperio Group LLC now owns 61,227 shares of the company’s stock worth $2,258,000 after buying an additional 996 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Flow International Corp by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 83,182 shares of the company’s stock worth $3,068,000 after buying an additional 5,370 shares during the last quarter.
Flow International Corp Company Profile
SPX FLOW, Inc provides various engineered solutions worldwide. The company engineers, designs, manufactures, and markets products and solutions used to process, blend, filter, dry, meter, and transport fluids with a focus on original equipment installation, including turn-key systems, modular systems, and components, as well as aftermarket components and support services.
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