SPX Technologies, Inc. (NYSE:SPXC) Receives $164.00 Consensus PT from Analysts

Shares of SPX Technologies, Inc. (NYSE:SPXC) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $164.00.

SPXC has been the topic of a number of research reports. Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $187.00 to $175.00 in a report on Friday, December 6th. Wolfe Research started coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price on the stock.

SPX Technologies Price Performance

Shares of SPXC opened at $149.99 on Tuesday. The stock has a 50 day simple moving average of $159.71 and a 200 day simple moving average of $155.06. SPX Technologies has a 52-week low of $95.00 and a 52-week high of $183.83. 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 capitalization of $6.95 billion, a PE ratio of 40.32, a P/E/G ratio of 1.55 and a beta of 1.26.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in shares of SPX Technologies by 195.2% during the 2nd quarter. American Century Companies Inc. now owns 14,492 shares of the company’s stock worth $2,060,000 after purchasing an additional 9,582 shares in the last quarter. Victory Capital Management Inc. raised its position in SPX Technologies by 15.7% during the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company’s stock worth $10,485,000 after acquiring an additional 10,010 shares in the last quarter. Dana Investment Advisors Inc. acquired a new stake in SPX Technologies in the second quarter valued at $855,000. Mutual of America Capital Management LLC grew its position in shares of SPX Technologies by 212.5% in 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 acquiring an additional 16,145 shares during the period. Finally, Barclays PLC increased its stake in shares of SPX Technologies by 299.0% during the 3rd quarter. Barclays PLC now owns 84,567 shares of the company’s stock worth $13,485,000 after purchasing an additional 63,373 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

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.