SPX Technologies, Inc. (NYSE:SPXC) Receives Consensus Rating of “Moderate Buy” from Analysts

SPX Technologies, Inc. (NYSE:SPXC) has been given a consensus rating of “Moderate Buy” by the five research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $174.75.

SPXC has been the subject of a number of recent research reports. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research note on Wednesday, February 26th. Wolfe Research began coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, UBS Group cut their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th.

Hedge Funds Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its holdings in shares of SPX Technologies by 212.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock worth $3,786,000 after buying an additional 16,145 shares during the last quarter. Barclays PLC boosted its holdings in shares of SPX Technologies by 299.0% in the 3rd quarter. Barclays PLC now owns 84,567 shares of the company’s stock worth $13,485,000 after buying an additional 63,373 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $164,888,000 after acquiring an additional 8,916 shares during the period. Corsair Capital Management L.P. raised its stake in SPX Technologies by 80,185.2% in the 3rd quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock valued at $18,179,000 after acquiring an additional 113,863 shares during the period. Finally, Nordea Investment Management AB raised its stake in SPX Technologies by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock valued at $53,203,000 after acquiring an additional 17,324 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $134.44 on Friday. The firm has a market capitalization of $6.24 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The firm has a fifty day simple moving average of $145.06 and a two-hundred day simple moving average of $154.15. 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 12 month low of $116.05 and a 12 month high of $183.83.

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.