Brokerages Set SPX Technologies, Inc. (NYSE:SPXC) Price Target at $266.67

SPX Technologies, Inc. (NYSE:SPXC) has been assigned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $264.8889.

A number of brokerages have commented on SPXC. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Oppenheimer reissued an “outperform” rating and issued a $280.00 price target (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price objective on shares of SPX Technologies in a research report on Monday, August 3rd. B. Riley Financial increased their price objective on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Wolfe Research assumed coverage on SPX Technologies in a research report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 price objective for the company.

SPX Technologies Stock Performance

NYSE:SPXC opened at $181.52 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $9.09 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The firm has a 50-day moving average price of $204.99 and a two-hundred day moving average price of $212.24. SPX Technologies has a twelve month low of $176.21 and a twelve month high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $640.18 million. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, research analysts expect that SPX Technologies will post 8.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in SPX Technologies by 36.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,466 shares of the company’s stock valued at $1,095,000 after acquiring an additional 1,186 shares during the last quarter. Tidal Investments LLC grew its position in shares of SPX Technologies by 10.7% in the second quarter. Tidal Investments LLC now owns 52,384 shares of the company’s stock valued at $12,843,000 after purchasing an additional 5,061 shares during the period. Integrated Wealth Concepts LLC acquired a new position in SPX Technologies in the second quarter valued at $87,000. Squarepoint Ops LLC purchased a new position in SPX Technologies during the second quarter worth about $14,194,000. Finally, Waverly Advisors LLC boosted its stake in SPX Technologies by 4.0% in the 2nd quarter. Waverly Advisors LLC now owns 4,262 shares of the company’s stock worth $1,045,000 after buying an additional 164 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

About SPX Technologies

SPX Technologies, Inc is a Charlotte, North Carolina-based industrial technology company that provides equipment and services used in heating, ventilation, air conditioning, cooling, and infrastructure applications. The company serves customers in commercial, industrial, utility, and residential markets through operations in North America and internationally.

SPX Technologies operates through two principal segments: HVAC and Detection & Measurement. Its HVAC businesses develop and manufacture cooling towers, evaporative cooling systems, air-conditioning and heating equipment, boilers, and related products.