SPX Technologies, Inc. (NYSE:SPXC) Given Average Recommendation of “Hold” by Analysts

Shares of SPX Technologies, Inc. (NYSE:SPXCGet Free Report) have been given an average recommendation of “Hold” by the five ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $164.00.

A number of research analysts recently commented on the company. Wolfe Research started coverage on SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective for the company. Sidoti lowered shares of SPX Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $187.00 to $175.00 in a research report on Friday, December 6th.

Read Our Latest Stock Analysis on SPX Technologies

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of SPX Technologies by 195.2% in the second quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock valued at $2,060,000 after acquiring an additional 9,582 shares in the last quarter. Victory Capital Management Inc. boosted its stake in SPX Technologies by 15.7% during the 2nd quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock valued at $10,485,000 after purchasing an additional 10,010 shares in the last quarter. Dana Investment Advisors Inc. bought a new position in SPX Technologies during the 2nd quarter valued at $855,000. Mutual of America Capital Management LLC increased its position in shares of SPX Technologies by 212.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock valued at $3,786,000 after purchasing an additional 16,145 shares during the period. Finally, Barclays PLC raised its stake 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 in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Trading Down 1.9 %

NYSE SPXC opened at $143.20 on Tuesday. The firm has a market capitalization of $6.64 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 1.55 and a beta of 1.26. SPX Technologies has a one year low of $95.00 and a one year high of $183.83. The company has a 50-day simple moving average of $160.58 and a 200-day simple moving average of $155.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

SPX Technologies (NYSE:SPXCGet Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. SPX Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, equities analysts forecast that SPX Technologies will post 5.56 earnings per share for the current year.

About SPX Technologies

(Get Free Report

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.

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Analyst Recommendations for SPX Technologies (NYSE:SPXC)

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