Zacks cut shares of SPX Corp. (NYSE:SPW) from a neutral rating to an underperform rating in a research report sent to investors on Tuesday morning, AnalystRatings.NET reports. The firm currently has $91.60 price target on the stock.
Zacks has also modified their ratings on a number of other industrials stocks in the few days. The firm downgraded shares of Commercial Vehicle Group Inc. from a neutral rating to an underperform rating. Their analysts now have a $6.80 price target on that stock. Also, Zacks downgraded shares of Chart Industries Inc. from a neutral rating to an underperform rating. Their analysts now have a $100.50 price target on that stock. Finally, Zacks downgraded shares of American Railcar Industries Inc. from an outperform rating to a neutral rating. Their analysts now have a $47.00 price target on that stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of SPX Corp. from $91.00 to $110.00 in a research note to investors on Friday, November 1st. They now have a buy rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of SPX Corp. from $89.00 to $93.00 in a research note to investors on Friday, November 1st. They now have an overweight rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of SPX Corp. from $76.00 to $90.00 in a research note to investors on Friday, November 1st. They now have a neutral rating on the stock. Four research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. SPX Corp. has an average rating of Hold and an average target price of $89.24.
SPX Corp. (NYSE:SPW) traded down 0.34% during mid-day trading on Tuesday, hitting $92.632. The stock had a trading volume of 56,921 shares. SPX Corp. has a one year low of $60.61 and a one year high of $93.86. The stock has a 50-day moving average of $85.80 and a 200-day moving average of $78.42. The company has a market cap of $4.141 billion and a price-to-earnings ratio of 17.71.
SPX Corp. (NYSE:SPW) last released its earnings data on Wednesday, October 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. On average, analysts predict that SPX Corp. will post $4.00 earnings per share for the current fiscal year.
SPX Corporation is a global, multi-industry manufacturer of specialized, engineered solutions with operations in over 35 countries and sales in over 150 countries globally.
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