SPX Technologies, Inc. (NYSE:SPXC) Given Average Rating of “Hold” by Brokerages

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $168.50.

Several research firms have issued reports on SPXC. Wolfe Research began coverage on shares of SPX Technologies in a research report 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 decreased their price target for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Finally, UBS Group decreased their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th.

SPX Technologies Stock Performance

NYSE:SPXC opened at $152.23 on Friday. SPX Technologies has a 1 year low of $100.59 and a 1 year high of $183.83. The firm’s fifty day simple moving average is $156.17 and its 200 day simple moving average is $155.51. 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 firm has a market capitalization of $7.06 billion, a PE ratio of 40.92, a PEG ratio of 1.39 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last posted 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 analyst estimates of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. On average, sell-side analysts anticipate that SPX Technologies will post 5.57 EPS for the current year.

Hedge Funds Weigh In On SPX Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in SPX Technologies in the third quarter valued at about $28,000. Canada Pension Plan Investment Board acquired a new position in SPX Technologies in the second quarter valued at about $28,000. ST Germain D J Co. Inc. acquired a new position in SPX Technologies in the third quarter valued at about $44,000. Spire Wealth Management acquired a new position in SPX Technologies in the fourth quarter valued at about $57,000. Finally, Farther Finance Advisors LLC boosted its position in SPX Technologies by 247.9% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock valued at $80,000 after buying an additional 357 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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.