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

Shares of SPX Technologies, Inc. (NYSE:SPXC) have been assigned a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $164.00.

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

SPX Technologies Price Performance

SPXC stock opened at $158.20 on Friday. The firm has a 50-day moving average of $164.96 and a 200 day moving average of $153.87. 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 company has a market cap of $7.33 billion, a P/E ratio of 42.50, a PEG ratio of 1.59 and a beta of 1.26. SPX Technologies has a 1 year low of $90.28 and a 1 year high of $183.83.

SPX Technologies (NYSE:SPXC) last announced 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. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. During the same quarter in the prior year, the company earned $1.06 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that SPX Technologies will post 5.56 EPS for the current year.

Institutional Trading of SPX Technologies

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in SPX Technologies by 122.6% during the second quarter. GAMMA Investing LLC now owns 423 shares of the company’s stock valued at $60,000 after buying an additional 233 shares during the period. Park Avenue Securities LLC purchased a new position in shares of SPX Technologies in the second quarter worth $607,000. CWM LLC boosted its position in shares of SPX Technologies by 547.8% during the second quarter. CWM LLC now owns 1,153 shares of the company’s stock worth $164,000 after acquiring an additional 975 shares during the last quarter. SG Americas Securities LLC grew its position in shares of SPX Technologies by 476.2% during the second quarter. SG Americas Securities LLC now owns 8,890 shares of the company’s stock valued at $1,264,000 after purchasing an additional 7,347 shares in the last quarter. Finally, Capital CS Group LLC purchased a new position in SPX Technologies during the 2nd quarter valued at approximately $662,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.