SPX Technologies (NYSE:SPXC) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of SPX Technologies (NYSE:SPXC) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other equities research analysts also recently commented on SPXC. Truist Financial raised SPX Technologies from a “hold” rating to a “buy” rating and lowered their price objective for the company from $244.00 to $243.00 in a research report on Friday, March 27th. JPMorgan Chase & Co. initiated coverage on SPX Technologies in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 price objective for the company. Wells Fargo & Company lowered their price objective on SPX Technologies from $270.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Oppenheimer lifted their price objective on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.56.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $217.53 on Friday. The company has a market cap of $10.92 billion, a P/E ratio of 43.42, a P/E/G ratio of 1.72 and a beta of 1.34. 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 has a 52 week low of $122.61 and a 52 week high of $246.68. The business has a fifty day simple moving average of $215.30 and a 200-day simple moving average of $210.12.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business’s revenue for the quarter was up 19.4% on a year-over-year basis. 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 forecast that SPX Technologies will post 7.8 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after acquiring an additional 232,436 shares during the period. Invesco Ltd. grew its position in SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after acquiring an additional 722,039 shares during the period. Capital International Investors purchased a new stake in SPX Technologies during the fourth quarter valued at about $307,494,000. Geode Capital Management LLC grew its position in SPX Technologies by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock valued at $242,874,000 after acquiring an additional 63,889 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in SPX Technologies by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock valued at $235,368,000 after acquiring an additional 84,117 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

About SPX Technologies

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.