SPX Technologies, Inc. (NYSE:SPXC) Receives $174.75 Average Target Price from Analysts

SPX Technologies, Inc. (NYSE:SPXC) has earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $174.75.

Several equities research analysts recently weighed in on SPXC shares. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a report on Wednesday, February 26th. UBS Group reduced their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, 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 target price on the stock.

SPX Technologies Trading Down 1.1 %

Shares of SPX Technologies stock opened at $133.94 on Friday. The firm has a market capitalization of $6.21 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $144.64 and its 200 day moving average is $153.75. SPX Technologies has a 1 year low of $116.05 and a 1 year high of $183.83.

Institutional Investors Weigh In On SPX Technologies

Several large investors have recently modified their holdings of SPXC. Allworth Financial LP grew its holdings in SPX Technologies by 123.3% during the 4th quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after acquiring an additional 90 shares during the period. Empowered Funds LLC bought a new stake in shares of SPX Technologies during the 4th quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ grew its stake in SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after purchasing an additional 185 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in SPX Technologies in the fourth quarter valued at approximately $57,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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.