Brokerages Set SPX Technologies, Inc. (NYSE:SPXC) Price Target at $174.75

SPX Technologies, Inc. (NYSE:SPXC) has received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation 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.

A number of equities research analysts have recently issued reports on SPXC shares. Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. UBS Group cut their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a 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 target price for the company in a report on Wednesday, February 26th.

SPX Technologies Trading Up 1.9 %

SPX Technologies stock opened at $132.10 on Thursday. SPX Technologies has a 1 year low of $115.00 and a 1 year high of $183.83. The firm’s 50 day moving average price is $138.37 and its two-hundred day moving average price is $150.78. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 35.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

Institutional Trading of SPX Technologies

A number of hedge funds have recently made changes to their positions in SPXC. Norges Bank acquired a new position in SPX Technologies in the 4th quarter worth about $93,038,000. JPMorgan Chase & Co. raised 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 valued at $94,169,000 after acquiring an additional 513,526 shares in the last quarter. Raymond James Financial Inc. bought a new position in SPX Technologies during the fourth quarter valued at approximately $32,337,000. First Trust Advisors LP increased its stake in shares of SPX Technologies by 54.5% in the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company’s stock worth $80,519,000 after purchasing an additional 195,153 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in SPX Technologies by 25.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock valued at $114,640,000 after purchasing an additional 160,535 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

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.