SPX Flow Inc was Downgraded to a Sell Rating at Credit Suisse

By Carrie Williams

SPX Flow Inc (NYSE: FLOW) received a Sell rating and a $23 price target from Credit Suisse analyst Julian Mitchell today. The company’s shares opened today at $30.34.

According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 7.5% and a 70.1% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as United Technologies Corp., Emerson Electric Company, and Rockwell Automation Inc.

SPX Flow Inc has an analyst consensus of Hold, with a price target consensus of $28.

Based on SPX Flow Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $467 million and GAAP net loss of $4.7 million. In comparison, last year the company earned revenue of $590 million and had a GAAP net loss of $4.1 million.

SPX Flow, Inc. supply of highly specialized, engineered solutions. It operates through three segments: Food and beverage, Power and energy and Industrial. The food and beverage segment include mixing, drying, evaporation and separation systems and components, heat exchangers, and reciprocating and centrifugal pump technologies. The power and energy segment include pumps, valves and the related accessories, while the core brands include APV, Bran+Luebbe, ClydeUnion Pumps, Copes-Vulcan, Dollinger Filtration, LIGHTNIN, M&J Valve, Plenty, and Vokes. The industrial segment serves customers in the chemical, air treatment, mining, pharmaceutical, marine, shipbuilding, infrastructure construction, general industrial and water treatment industries. The company is headquartered in Charlotte, NC.