Flow International Corp (NASDAQ:FLOW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
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 brokerages have also recently commented on FLOW. Credit Suisse Group reaffirmed a “sell” rating and set a $30.00 price target on shares of Flow International Corp in a research report on Tuesday, April 11th. Royal Bank of Canada reaffirmed a “hold” rating and set a $35.00 price target on shares of Flow International Corp in a research report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $37.00.
Flow International Corp (NASDAQ FLOW) traded up 3.76% during midday trading on Monday, hitting $37.85. The stock had a trading volume of 145,169 shares. The stock’s market capitalization is $1.60 billion. Flow International Corp has a 1-year low of $22.34 and a 1-year high of $40.66. The stock’s 50-day moving average is $37.92 and its 200-day moving average is $35.21.
Flow International Corp (NASDAQ:FLOW) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $433.30 million during the quarter, compared to analysts’ expectations of $435.57 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. Flow International Corp’s revenue was down 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Flow International Corp will post $0.15 EPS for the current fiscal year.
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In related news, insider David Adam Kowalski sold 11,744 shares of the stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $36.00, for a total transaction of $422,784.00. Following the sale, the insider now owns 142,033 shares of the company’s stock, valued at approximately $5,113,188. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors have recently made changes to their positions in the company. Rex Capital Advisors LLC acquired a new position in shares of Flow International Corp during the first quarter worth $315,000. Russell Investments Group Ltd. acquired a new position in shares of Flow International Corp during the fourth quarter worth $863,000. Finally, Karp Capital Management Corp acquired a new position in shares of Flow International Corp during the first quarter worth $2,091,000.
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