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

SPX Technologies, Inc. (NYSE:SPXC) has earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $174.75.

Several equities research analysts have recently weighed in on the company. Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. 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. UBS Group decreased their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Wednesday, February 26th.

SPX Technologies Trading Up 2.3 %

Shares of SPXC opened at $134.44 on Friday. The business’s 50-day moving average price is $145.06 and its 200-day moving average price is $154.15. SPX Technologies has a twelve month low of $116.05 and a twelve month high of $183.83. The stock has a market cap of $6.24 billion, a PE ratio of 36.14, a P/E/G ratio of 1.33 and a beta of 1.26. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

Institutional Trading of SPX Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC boosted its stake in shares of SPX Technologies by 212.5% during the third 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. Barclays PLC boosted its stake in shares of SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after purchasing an additional 63,373 shares during the period. Geode Capital Management LLC boosted its stake in shares of SPX Technologies by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after purchasing an additional 8,916 shares during the period. Corsair Capital Management L.P. boosted its stake in shares of SPX Technologies by 80,185.2% during the third quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock valued at $18,179,000 after purchasing an additional 113,863 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of SPX Technologies by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock valued at $53,203,000 after purchasing an additional 17,324 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Company Profile

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.