SPX Technologies (NYSE:SPXC) Cut to “Neutral” at Sidoti

Sidoti downgraded shares of SPX Technologies (NYSE:SPXC) from a buy rating to a neutral rating in a research note published on Friday morning, Marketbeat Ratings reports. Sidoti currently has $175.00 price objective on the stock, down from their prior price objective of $187.00.

Separately, Wolfe Research began coverage on shares of SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $164.00.

SPX Technologies Price Performance

SPXC stock opened at $159.43 on Friday. The stock’s 50 day moving average price is $164.94 and its 200 day moving average price is $153.60. The firm has a market cap of $7.39 billion, a P/E ratio of 42.86, a PEG ratio of 1.76 and a beta of 1.26. 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 has a 1 year low of $87.08 and a 1 year high of $183.83.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The business had revenue of $483.70 million for 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%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. On average, sell-side analysts expect that SPX Technologies will post 5.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Several large investors have recently added to or reduced their stakes in SPXC. Crewe Advisors LLC purchased a new stake in SPX Technologies in the second quarter valued at approximately $28,000. Canada Pension Plan Investment Board acquired a new position in shares of SPX Technologies in the 2nd quarter valued at $28,000. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies during the 3rd quarter valued at $28,000. UMB Bank n.a. increased its holdings in shares of SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 193 shares during the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in shares of SPX Technologies in the 3rd quarter worth $44,000. 92.82% of the stock is currently owned by hedge funds and other 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.