SPX Technologies, Inc. (NYSE:SPXC) Receives Average Rating of “Hold” from Analysts

Shares of SPX Technologies, Inc. (NYSE:SPXC) have been given a consensus recommendation of “Hold” by the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $164.00.

Several equities analysts have recently commented on the company. Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $187.00 to $175.00 in a research note on Friday. Wolfe Research began coverage on SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 target price on the stock.

SPX Technologies Stock Performance

NYSE:SPXC traded down $8.89 during trading hours on Friday, reaching $161.00. The company had a trading volume of 47,501 shares, compared to its average volume of 248,147. The firm has a market cap of $7.46 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 1.77 and a beta of 1.26. SPX Technologies has a 1-year low of $87.08 and a 1-year high of $183.83. The business’s 50 day moving average price is $164.93 and its 200-day moving average price is $153.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. The firm 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%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 earnings per share. Research analysts forecast that SPX Technologies will post 5.56 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC acquired a new position in SPX Technologies during the second quarter worth $28,000. Canada Pension Plan Investment Board acquired a new position in SPX Technologies during the second quarter worth $28,000. V Square Quantitative Management LLC purchased a new position in SPX Technologies during the third quarter worth $28,000. UMB Bank n.a. increased its position in SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 193 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in SPX Technologies during the third quarter worth $44,000. 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.