Analysts Set SPX Technologies, Inc. (NYSE:SPXC) PT at $164.00

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $164.00.

SPXC has been the subject of several analyst reports. Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $187.00 to $175.00 in a report on Friday. Wolfe Research assumed coverage on SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company.

Institutional Trading of SPX Technologies

Several institutional investors have recently made changes to their positions in SPXC. State Street Corp grew its position in SPX Technologies by 1.3% during the third quarter. State Street Corp now owns 1,729,989 shares of the company’s stock valued at $275,864,000 after acquiring an additional 22,177 shares during the period. Earnest Partners LLC lifted its stake in shares of SPX Technologies by 3.3% in the 2nd quarter. Earnest Partners LLC now owns 1,066,426 shares of the company’s stock valued at $151,582,000 after purchasing an additional 33,675 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after purchasing an additional 8,916 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of SPX Technologies by 45.3% during the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock worth $111,100,000 after purchasing an additional 217,316 shares during the period. Finally, Conestoga Capital Advisors LLC increased its position in SPX Technologies by 74.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock worth $100,023,000 after purchasing an additional 267,965 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Stock Down 6.2 %

SPXC opened at $159.43 on Friday. The firm has a market cap of $7.39 billion, a P/E ratio of 42.86, a PEG ratio of 1.76 and a beta of 1.26. The business’s fifty day simple moving average is $164.94 and its 200 day simple moving average is $153.60. SPX Technologies has a 52 week low of $87.08 and a 52 week high of $183.83. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The company had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS. As a group, equities research analysts anticipate that SPX Technologies will post 5.56 EPS for the current fiscal year.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.