Brokerages Set SPX Technologies, Inc. (NYSE:SPXC) PT at $164.00

SPX Technologies, Inc. (NYSE:SPXC) has been given an average recommendation of “Hold” by the five research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $164.00.

Several brokerages recently commented on SPXC. Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. Sidoti downgraded 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 research note on Friday, December 6th.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $159.15 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average price is $164.92 and its 200-day moving average price is $153.72. SPX Technologies has a 52-week low of $88.87 and a 52-week high of $183.83. The company has a market cap of $7.38 billion, a PE ratio of 42.75, a PEG ratio of 1.59 and a beta of 1.26.

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

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in SPX Technologies by 122.6% in the 2nd quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock worth $60,000 after acquiring an additional 233 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of SPX Technologies in the second quarter worth $607,000. CWM LLC raised its position in shares of SPX Technologies by 547.8% during the 2nd quarter. CWM LLC now owns 1,153 shares of the company’s stock valued at $164,000 after purchasing an additional 975 shares during the period. SG Americas Securities LLC boosted its holdings in SPX Technologies by 476.2% in the 2nd quarter. SG Americas Securities LLC now owns 8,890 shares of the company’s stock worth $1,264,000 after buying an additional 7,347 shares during the period. Finally, Capital CS Group LLC purchased a new stake in SPX Technologies in the 2nd quarter worth $662,000. 92.82% of the stock is owned by 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.