SPX Technologies (NYSE:SPXC) Raised to “Buy” at Sidoti

SPX Technologies (NYSE:SPXC) was upgraded by investment analysts at Sidoti from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat reports.

Several other research analysts have also recently weighed in on the stock. UBS Group lowered their price target 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. Wolfe Research initiated coverage on SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and an average target price of $174.75.

SPX Technologies Stock Performance

NYSE SPXC opened at $144.00 on Wednesday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 1.33 and a beta of 1.29. The stock has a 50-day moving average of $147.11 and a 200 day moving average of $155.43. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies has a twelve month low of $112.53 and a twelve month high of $183.83.

Institutional Trading of SPX Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPXC. Armis Advisers LLC purchased a new position in SPX Technologies during the 4th quarter worth $319,000. Palisades Investment Partners LLC increased its stake in shares of SPX Technologies by 9.9% during the fourth quarter. Palisades Investment Partners LLC now owns 112,097 shares of the company’s stock worth $16,312,000 after acquiring an additional 10,109 shares during the period. Twinbeech Capital LP purchased a new position in SPX Technologies during the fourth quarter worth about $1,931,000. Two Sigma Investments LP lifted its position in SPX Technologies by 90.8% in the fourth quarter. Two Sigma Investments LP now owns 13,607 shares of the company’s stock valued at $1,980,000 after purchasing an additional 6,475 shares during the period. Finally, Tidal Investments LLC boosted its holdings in SPX Technologies by 10.2% in the 4th quarter. Tidal Investments LLC now owns 3,336 shares of the company’s stock valued at $485,000 after purchasing an additional 310 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other 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.