SPX FLOW, Inc. (FLOW Quick QuoteFLOW - Free Report) shares ended the last trading session 22.3% higher at $75.93. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.6% gain over the past four weeks.

SPX Flow recorded solid price appreciation following the company’s confirmation that on Jun 21, 2021, it had rejected an offer made by Ingersoll Rand Inc. (IR Quick QuoteIR - Free Report) to acquire SPX Flow for $85 per share in cash. As noted by SPX FLOW, the offer undervalues the company and its future growth prospects. SPX FLOW believes that the execution of its strategic plan will help it in offering more value to its shareholders.

This engineered flow components maker is expected to post quarterly earnings of $0.59 per share in its upcoming report, which represents a year-over-year change of +168.2%. Revenues are expected to be $369.8 million, up 20% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For SPX Flow, the consensus EPS estimate for the quarter has been revised 6.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FLOW going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>