SPX Technologies, Inc. (NYSE:SPXC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $168.50.

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

SPX Technologies Trading Down 0.3 %

SPX Technologies stock opened at $144.99 on Friday. The company has a 50 day moving average price of $155.10 and a 200 day moving average price of $155.62. SPX Technologies has a 52 week low of $100.59 and a 52 week high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 1.39 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. During the same quarter last year, the business posted $1.06 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts forecast that SPX Technologies will post 5.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SPXC. Assetmark Inc. raised its holdings in SPX Technologies by 4.7% in the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock worth $278,000 after acquiring an additional 78 shares during the period. Hilltop National Bank raised its holdings in SPX Technologies by 19.9% in the 4th quarter. Hilltop National Bank now owns 536 shares of the company’s stock worth $78,000 after acquiring an additional 89 shares during the period. PNC Financial Services Group Inc. raised its holdings in SPX Technologies by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock worth $1,632,000 after acquiring an additional 158 shares during the period. M&T Bank Corp raised its holdings in SPX Technologies by 0.4% in the 3rd quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock worth $5,986,000 after acquiring an additional 160 shares during the period. Finally, KBC Group NV raised its holdings in SPX Technologies by 14.3% in the 3rd quarter. KBC Group NV now owns 1,295 shares of the company’s stock worth $207,000 after acquiring an additional 162 shares during the period. Institutional investors own 92.82% of the company’s stock.

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.