SPX Technologies, Inc. (NYSE:SPXC) Receives $168.50 Average Price Target from Analysts

SPX Technologies, Inc. (NYSE:SPXC) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $168.50.

SPXC has been the topic of a number of research analyst reports. Sidoti lowered shares of SPX Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $187.00 to $175.00 in a research report on Friday, December 6th. UBS Group cut their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price for the company.

SPX Technologies Stock Down 4.4 %

SPXC stock opened at $140.18 on Wednesday. The firm has a 50-day moving average price of $147.75 and a 200-day moving average price of $155.72. SPX Technologies has a 12 month low of $103.11 and a 12 month 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 $6.50 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

Institutional Trading of SPX Technologies

Several institutional investors have recently added to or reduced their stakes in SPXC. Mutual of America Capital Management LLC grew its stake in 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 worth $3,786,000 after purchasing an additional 16,145 shares during the period. Barclays PLC lifted its position in shares of SPX Technologies by 299.0% during the 3rd 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 boosted its stake in SPX Technologies by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock worth $164,888,000 after acquiring an additional 8,916 shares in the last quarter. Nordea Investment Management AB increased its stake in SPX Technologies by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock valued at $53,203,000 after purchasing an additional 17,324 shares in the last quarter. Finally, Corsair Capital Management L.P. boosted its position in shares of SPX Technologies by 80,185.2% during the 3rd quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock worth $18,179,000 after purchasing an additional 113,863 shares in the last quarter. 92.82% of the stock is currently 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.