SPX Technologies (NYSE:SPXC) Upgraded by Oppenheimer to Outperform Rating

SPX Technologies (NYSE:SPXC) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $165.00 target price on the stock. Oppenheimer’s price target indicates a potential upside of 14.58% from the company’s current price.

Other research analysts have also issued reports about the stock. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday. UBS Group cut their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Wolfe Research started coverage on shares of SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

SPX Technologies Stock Down 4.8 %

SPXC opened at $144.00 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The business’s fifty day moving average is $147.11 and its two-hundred day moving average is $155.43. SPX Technologies has a one year low of $112.53 and a one year high of $183.83. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 1.33 and a beta of 1.29.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SPXC. Allworth Financial LP grew its position in shares of 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 buying an additional 90 shares during the period. Empowered Funds LLC bought a new stake in shares of SPX Technologies in the 4th quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of 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. Finally, Covestor Ltd raised its stake in SPX Technologies by 313.8% in the 4th quarter. Covestor Ltd now owns 389 shares of the company’s stock worth $57,000 after purchasing an additional 295 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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.