B. Riley Financial Issues Pessimistic Forecast for SPX Technologies (NYSE:SPXC) Stock Price

SPX Technologies (NYSE:SPXC) had its price objective cut by investment analysts at B. Riley Financial from $285.00 to $250.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial‘s target price would suggest a potential upside of 53.97% from the company’s previous close.

A number of other brokerages have also recently issued reports on SPXC. Wolfe Research started coverage on SPX Technologies in a report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 price objective on the stock. Truist Financial reduced their target price on SPX Technologies from $301.00 to $266.00 and set a “buy” rating for the company in a report on Monday, October 5th. Weiss Ratings cut SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. Vertical Research started coverage on SPX Technologies in a research report on Monday, September 28th. They set a “buy” rating and a $215.00 price target on the stock. Finally, Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.82.

SPX Technologies Stock Performance

Shares of NYSE:SPXC traded up $2.04 during trading on Monday, hitting $162.37. 67,914 shares of the company were exchanged, compared to its average volume of 566,886. SPX Technologies has a 52-week low of $155.86 and a 52-week high of $251.08. The stock has a 50 day moving average of $183.00 and a 200 day moving average of $206.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The company has a market cap of $8.13 billion, a PE ratio of 29.18, a P/E/G ratio of 1.03 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.17. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, equities research analysts predict that SPX Technologies will post 8.48 EPS for the current year.

Hedge Funds Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in SPX Technologies in the 2nd quarter worth about $1,189,365,000. Jupiter Topco LLC purchased a new position in shares of SPX Technologies during the second quarter worth about $465,593,000. First Trust Advisors LP increased its position in shares of SPX Technologies by 181.4% in the first quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock worth $272,492,000 after purchasing an additional 878,494 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of SPX Technologies by 5.9% in the first quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock worth $153,011,000 after purchasing an additional 42,921 shares during the last quarter. Finally, Port Capital LLC bought a new position in shares of SPX Technologies in the second quarter worth approximately $109,159,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.

SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.