Analysts Set SPX Technologies, Inc. (NYSE:SPXC) Price Target at $174.75

SPX Technologies, Inc. (NYSE:SPXC) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $174.75.

Several research firms have recently weighed in on SPXC. UBS Group reduced their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a research report on Wednesday, February 26th. Finally, Wolfe Research started coverage on SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price for the company.

SPX Technologies Stock Down 1.1 %

SPXC opened at $134.10 on Friday. SPX Technologies has a 1-year low of $116.05 and a 1-year high of $183.83. 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 stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 1.33 and a beta of 1.26. The business has a 50 day moving average of $144.31 and a 200-day moving average of $153.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPXC. Mutual of America Capital Management LLC lifted its holdings in shares of SPX Technologies by 212.5% during the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock valued at $3,786,000 after acquiring an additional 16,145 shares during the period. Barclays PLC lifted its holdings in shares of SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after acquiring an additional 63,373 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SPX Technologies by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after acquiring an additional 8,916 shares during the period. Corsair Capital Management L.P. lifted its holdings in shares of SPX Technologies by 80,185.2% during the third quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock valued at $18,179,000 after acquiring an additional 113,863 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of SPX Technologies by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock valued at $53,203,000 after acquiring an additional 17,324 shares during the period. 92.82% of the stock is owned by institutional investors.

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.