UBS Group Cuts SPX Technologies (NYSE:SPXC) Price Target to $160.00

SPX Technologies (NYSE:SPXC) had its target price reduced by UBS Group from $164.00 to $160.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

SPXC has been the topic of a number of other research reports. Wolfe Research assumed coverage on shares of SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target on the stock. Sidoti lowered shares of SPX Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SPX Technologies presently has a consensus rating of “Hold” and a consensus price target of $168.50.

SPX Technologies Trading Up 0.3 %

NYSE SPXC opened at $142.95 on Tuesday. SPX Technologies has a 12 month low of $95.00 and a 12 month high of $183.83. The stock has a 50-day simple moving average of $158.83 and a 200 day simple moving average of $155.13. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $6.63 billion, a PE ratio of 38.43, a P/E/G ratio of 1.55 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. SPX Technologies’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. Research analysts forecast that SPX Technologies will post 5.56 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in SPX Technologies in the second quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in SPX Technologies during the third quarter worth $28,000. ST Germain D J Co. Inc. acquired a new stake in SPX Technologies in the third quarter valued at $44,000. Farther Finance Advisors LLC grew its position in shares of SPX Technologies by 247.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock valued at $80,000 after acquiring an additional 357 shares during the period. Finally, Signaturefd LLC increased its stake in shares of SPX Technologies by 65.2% during the 3rd quarter. Signaturefd LLC now owns 542 shares of the company’s stock worth $86,000 after purchasing an additional 214 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

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.