Stifel Nicolaus Boosts SPX Flow (NYSE:FLOW) Price Target to $48.00
SPX Flow (NYSE:FLOW) had its price target raised by Stifel Nicolaus from $44.00 to $48.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the industrial products company’s stock.
A number of other research analysts have also commented on FLOW. Zacks Investment Research upgraded shares of SPX Flow from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research note on Thursday, July 16th. Robert W. Baird lowered their price objective on shares of SPX Flow from $42.00 to $40.00 and set an outperform rating on the stock in a research note on Wednesday, May 13th. Royal Bank of Canada raised their price objective on shares of SPX Flow from $26.00 to $31.00 and gave the company an underperform rating in a research note on Thursday. Wolfe Research lowered shares of SPX Flow from a market perform rating to an underperform rating and set a $29.00 price objective on the stock. in a research note on Wednesday, April 15th. Finally, Barclays decreased their price target on shares of SPX Flow from $36.00 to $33.00 and set an equal weight rating on the stock in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $39.71.
Shares of FLOW traded down $0.79 during midday trading on Thursday, hitting $40.08. 412,903 shares of the stock traded hands, compared to its average volume of 180,207. SPX Flow has a 1-year low of $15.74 and a 1-year high of $49.94. The firm has a market capitalization of $1.71 billion, a PE ratio of -8.26, a price-to-earnings-growth ratio of 11.54 and a beta of 1.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 2.50. The business’s 50 day moving average price is $36.32 and its two-hundred day moving average price is $35.20.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in SPX Flow by 162.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 198,173 shares of the industrial products company’s stock worth $9,685,000 after purchasing an additional 122,573 shares in the last quarter. Norges Bank purchased a new position in SPX Flow during the 4th quarter worth approximately $31,749,000. Deutsche Bank AG grew its position in SPX Flow by 57.7% during the 1st quarter. Deutsche Bank AG now owns 97,631 shares of the industrial products company’s stock worth $2,774,000 after purchasing an additional 35,731 shares in the last quarter. Man Group plc purchased a new position in SPX Flow during the 4th quarter worth approximately $3,029,000. Finally, Balyasny Asset Management LLC purchased a new position in SPX Flow during the 1st quarter worth approximately $1,933,000. Hedge funds and other institutional investors own 93.35% of the company’s stock.
SPX Flow Company Profile
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.
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