Zacks Investment Research cut shares of Flow International Corp (NASDAQ:FLOW) from a buy rating to a hold rating in a research note released on Friday, November 3rd.
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 has been the subject of several other research reports. Wolfe Research began coverage on Flow International Corp in a report on Tuesday, July 11th. They issued a market perform rating for the company. Stifel Nicolaus reissued a buy rating and issued a $46.00 price objective on shares of Flow International Corp in a report on Friday, July 14th. UBS AG raised Flow International Corp from a neutral rating to a positive rating in a report on Tuesday, August 8th. Susquehanna Bancshares Inc upgraded Flow International Corp from a neutral rating to a positive rating and increased their price target for the company from $41.00 to $42.00 in a research note on Tuesday, August 8th. Finally, BidaskClub upgraded Flow International Corp from a strong sell rating to a sell rating in a research note on Saturday, September 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $43.86.
Flow International Corp (NASDAQ:FLOW) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $491.10 million during the quarter, compared to the consensus estimate of $493.53 million. During the same period in the previous year, the business posted $0.34 earnings per share. Flow International Corp’s revenue was up 5.2% compared to the same quarter last year.
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Several hedge funds and other institutional investors have recently modified their holdings of FLOW. Piedmont Investment Advisors LLC bought a new position in shares of Flow International Corp in the second quarter worth $337,000. Crossmark Global Holdings Inc. acquired a new stake in Flow International Corp in the third quarter valued at about $319,000. SG Americas Securities LLC acquired a new stake in Flow International Corp in the third quarter valued at about $226,000. Rhumbline Advisers boosted its stake in Flow International Corp by 6.9% in the second quarter. Rhumbline Advisers now owns 83,182 shares of the company’s stock valued at $3,068,000 after buying an additional 5,370 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Flow International Corp by 23.8% in the third quarter. Russell Investments Group Ltd. now owns 25,896 shares of the company’s stock valued at $998,000 after buying an additional 4,976 shares in the last quarter.
About Flow International Corp
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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