Brokerages Set SPX Technologies, Inc. (NYSE:SPXC) PT at $164.00

SPX Technologies, Inc. (NYSE:SPXC) has received an average rating of “Hold” from the five research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $164.00.

Several equities analysts have recently weighed in on SPXC shares. Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $187.00 to $175.00 in a research report on Friday, December 6th. Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock.

Hedge Funds Weigh In On SPX Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in shares of SPX Technologies by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock worth $53,203,000 after acquiring an additional 17,324 shares during the period. JPMorgan Chase & Co. increased its position in SPX Technologies by 666.7% during the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock worth $94,169,000 after purchasing an additional 513,526 shares during the last quarter. Principal Financial Group Inc. increased its position in SPX Technologies by 5.3% during the third quarter. Principal Financial Group Inc. now owns 547,961 shares of the company’s stock worth $87,378,000 after purchasing an additional 27,545 shares during the last quarter. Franklin Resources Inc. raised its stake in SPX Technologies by 188.4% during the third quarter. Franklin Resources Inc. now owns 12,531 shares of the company’s stock worth $2,127,000 after purchasing an additional 8,186 shares during the period. Finally, Synovus Financial Corp boosted its holdings in SPX Technologies by 2.1% in the 3rd quarter. Synovus Financial Corp now owns 9,489 shares of the company’s stock valued at $1,513,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $148.92 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market cap of $6.90 billion, a PE ratio of 40.03, a PEG ratio of 1.55 and a beta of 1.30. SPX Technologies has a one year low of $95.00 and a one year high of $183.83. The firm has a fifty day moving average of $159.49 and a 200 day moving average of $155.32.

SPX Technologies (NYSE:SPXC) last released its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 earnings per share. As a group, research analysts predict that SPX Technologies will post 5.56 EPS for the current fiscal year.

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.