SPX Technologies (NYSE:SPXC) Receives “Hold (C+)” Rating from Weiss Ratings

SPX Technologies (NYSE:SPXC)‘s stock had its “hold (c+)” rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

A number of other equities analysts have also recently weighed in on the company. UBS Group upped their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Truist Financial started coverage on SPX Technologies in a report on Monday. They issued a “hold” rating and a $209.00 price target for the company. Wells Fargo & Company started coverage on SPX Technologies in a report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 price target for the company. Finally, Bank of America started coverage on SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.00.

SPX Technologies Stock Up 2.2%

Shares of NYSE:SPXC opened at $194.58 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. SPX Technologies has a 1 year low of $115.00 and a 1 year high of $209.38. The stock has a market capitalization of $9.10 billion, a P/E ratio of 43.73, a PEG ratio of 1.95 and a beta of 1.37. The stock has a 50-day simple moving average of $187.25 and a 200-day simple moving average of $169.50.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The business had revenue of $552.40 million during the quarter, compared to analysts’ expectations of $546.03 million. During the same quarter in the previous year, the business earned $1.42 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts forecast that SPX Technologies will post 5.57 earnings per share for the current year.

Hedge Funds Weigh In On SPX Technologies

Institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in shares of SPX Technologies in the 1st quarter valued at approximately $890,000. Dynamic Technology Lab Private Ltd raised its position in shares of SPX Technologies by 794.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company’s stock valued at $1,819,000 after acquiring an additional 12,546 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of SPX Technologies during the 2nd quarter valued at approximately $1,878,000. GAMMA Investing LLC raised its position in shares of SPX Technologies by 5.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,140 shares of the company’s stock valued at $191,000 after acquiring an additional 64 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of SPX Technologies by 80.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,951 shares of the company’s stock valued at $251,000 after acquiring an additional 868 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Company Profile

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.