SPX Technologies (NYSE:SPXC) Given New $251.00 Price Target at Truist Financial

SPX Technologies (NYSE:SPXC) had its price target lifted by research analysts at Truist Financial from $244.00 to $251.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 11.83% from the company’s current price.

Several other equities research analysts have also recently weighed in on SPXC. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $280.00 in a research note on Friday, February 13th. Oppenheimer boosted their target price on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. initiated coverage on SPX Technologies in a research report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.56.

SPX Technologies Price Performance

SPXC stock opened at $224.45 on Monday. The business has a 50 day moving average price of $215.43 and a 200 day moving average price of $209.91. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 1.72 and a beta of 1.34. SPX Technologies has a fifty-two week low of $122.61 and a fifty-two week high of $246.68. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. The firm had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Equities research analysts anticipate that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Trading of SPX Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. purchased a new stake in shares of SPX Technologies in the third quarter valued at $28,000. Cullen Frost Bankers Inc. increased its stake in SPX Technologies by 52.9% in the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Optiver Holding B.V. increased its stake in SPX Technologies by 110.5% in the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after purchasing an additional 84 shares during the last quarter. Financial Consulate Inc. acquired a new position in SPX Technologies in the third quarter valued at $34,000. Finally, Ares Financial Consulting LLC acquired a new position in SPX Technologies in the fourth quarter valued at $37,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.