Analysts Set SPX Technologies, Inc. (NYSE:SPXC) Price Target at $164.00

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned an average rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $164.00.

A number of research analysts have recently weighed in on SPXC shares. Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $187.00 to $175.00 in a report on Friday, December 6th. Wolfe Research assumed coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies in the third quarter valued at approximately $28,000. Canada Pension Plan Investment Board purchased a new position in shares of SPX Technologies during the 2nd quarter worth $28,000. ST Germain D J Co. Inc. acquired a new position in shares of SPX Technologies during the 3rd quarter valued at about $44,000. Farther Finance Advisors LLC grew its holdings in shares of SPX Technologies by 247.9% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock valued at $80,000 after purchasing an additional 357 shares during the period. Finally, Signaturefd LLC increased its position in SPX Technologies by 65.2% during the third quarter. Signaturefd LLC now owns 542 shares of the company’s stock worth $86,000 after purchasing an additional 214 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Price Performance

Shares of SPXC stock opened at $146.15 on Tuesday. The company has a market cap of $6.78 billion, a P/E ratio of 39.29, a PEG ratio of 1.55 and a beta of 1.26. The stock’s 50-day moving average is $159.86 and its 200 day moving average is $154.98. SPX Technologies has a 1-year low of $95.00 and a 1-year high of $183.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts predict that SPX Technologies will post 5.56 earnings per share for the current fiscal year.

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.