SPX Technologies (NYSE:SPXC) Stock Rating Upgraded by Oppenheimer

SPX Technologies (NYSE:SPXC) was upgraded by equities research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a $165.00 target price on the stock. Oppenheimer’s target price would indicate a potential upside of 14.58% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Wolfe Research began coverage on SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target on the stock. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, UBS Group reduced their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, SPX Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Stock Down 4.8 %

Shares of NYSE:SPXC opened at $144.00 on Wednesday. SPX Technologies has a 12-month low of $112.53 and a 12-month 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. The stock has a market cap 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 business’s 50 day moving average is $147.11 and its 200 day moving average is $155.43.

Institutional Trading of SPX Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of SPX Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company’s stock valued at $732,153,000 after buying an additional 89,770 shares during the last quarter. State Street Corp increased its holdings in shares of SPX Technologies by 1.3% during the 3rd quarter. State Street Corp now owns 1,729,989 shares of the company’s stock valued at $275,864,000 after purchasing an additional 22,177 shares in the last quarter. Invesco Ltd. raised its position in shares of SPX Technologies by 3.4% in the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company’s stock worth $167,462,000 after acquiring an additional 37,468 shares during the period. Geode Capital Management LLC raised its holdings in SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock worth $164,888,000 after purchasing an additional 8,916 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in shares of SPX Technologies by 25.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock worth $114,640,000 after buying an additional 160,535 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.