SPX Technologies (NYSE:SPXC) Price Target Increased to $126.00 by Analysts at UBS Group

SPX Technologies (NYSE:SPXC) had its price objective increased by stock analysts at UBS Group from $90.00 to $126.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 4.35% from the company’s previous close.

Several other research analysts also recently commented on SPXC. Oppenheimer reissued an “outperform” rating and issued a $124.00 target price (up from $118.00) on shares of SPX Technologies in a report on Friday, February 23rd. StockNews.com cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.00.

SPX Technologies Stock Up 0.1 %

SPXC traded up $0.11 during trading on Wednesday, reaching $120.75. 56,337 shares of the stock traded hands, compared to its average volume of 218,013. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 63.02, a price-to-earnings-growth ratio of 1.30 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.08. SPX Technologies has a fifty-two week low of $61.09 and a fifty-two week high of $122.97. The stock’s 50-day simple moving average is $109.73 and its two-hundred day simple moving average is $95.00.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.25. The business had revenue of $469.40 million for the quarter, compared to the consensus estimate of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. SPX Technologies’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. As a group, equities research analysts expect that SPX Technologies will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other news, insider John William Swann III sold 32,325 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the transaction, the insider now directly owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the completion of the transaction, the chief executive officer now owns 667,045 shares of the company’s stock, valued at approximately $76,936,970.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares in the company, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Insiders have sold 94,373 shares of company stock worth $10,962,146 in the last 90 days. Company insiders own 4.02% of the company’s stock.

Institutional Investors Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of SPX Technologies by 1.2% during the first quarter. BlackRock Inc. now owns 7,539,474 shares of the company’s stock worth $532,136,000 after buying an additional 92,143 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of SPX Technologies by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,014,424 shares of the company’s stock valued at $408,174,000 after purchasing an additional 50,178 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of SPX Technologies by 3.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,265,310 shares of the company’s stock valued at $280,018,000 after purchasing an additional 160,366 shares during the last quarter. State Street Corp increased its position in shares of SPX Technologies by 1.2% during the first quarter. State Street Corp now owns 1,666,386 shares of the company’s stock worth $117,614,000 after buying an additional 20,510 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in SPX Technologies by 11.7% in the third quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company’s stock valued at $128,583,000 after buying an additional 165,544 shares during the period. 92.82% of the stock is owned by institutional investors.

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.