SPX Technologies, Inc. (NYSE:SPXC) Receives $168.50 Average PT from Brokerages

SPX Technologies, Inc. (NYSE:SPXCGet Free Report) has been given an average rating of “Hold” by the five analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $168.50.

A number of equities analysts recently weighed in on SPXC shares. Sidoti lowered shares of SPX Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target on the stock. Finally, UBS Group dropped their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th.

Check Out Our Latest Analysis on SPX Technologies

SPX Technologies Stock Down 5.2 %

SPXC stock opened at $144.04 on Friday. SPX Technologies has a 1-year low of $100.59 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. The business has a fifty day moving average price of $155.95 and a 200-day moving average price of $155.74. The stock has a market capitalization of $6.68 billion, a P/E ratio of 38.72, a P/E/G ratio of 1.39 and a beta of 1.30.

SPX Technologies (NYSE:SPXCGet Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. SPX Technologies’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. Equities analysts forecast that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Street Corp grew its holdings in SPX Technologies by 1.3% in the third quarter. State Street Corp now owns 1,729,989 shares of the company’s stock worth $275,864,000 after purchasing an additional 22,177 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock worth $164,888,000 after purchasing an additional 8,916 shares in the last quarter. Conestoga Capital Advisors LLC grew 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 worth $114,640,000 after buying an additional 160,535 shares during the last quarter. Janus Henderson Group PLC increased its position in SPX Technologies by 45.3% during the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after buying an additional 217,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in SPX Technologies by 29.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 623,405 shares of the company’s stock valued at $99,408,000 after buying an additional 142,544 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

About SPX Technologies

(Get Free Report

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.

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Analyst Recommendations for SPX Technologies (NYSE:SPXC)

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