Analysts Set SPX Technologies, Inc. (NYSE:SPXC) Price Target at $168.50

SPX Technologies, Inc. (NYSE:SPXC) has received a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $168.50.

A number of brokerages have recently issued reports on SPXC. UBS Group lowered their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Finally, Wolfe Research began coverage on SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price objective for the company.

Institutional Investors Weigh In On SPX Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in SPX Technologies by 123.3% in the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock valued at $25,000 after acquiring an additional 90 shares during the period. Empowered Funds LLC purchased a new position in shares of SPX Technologies during the fourth quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new position in shares of SPX Technologies during the third quarter valued at approximately $28,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock valued at $28,000 after buying an additional 185 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $136.31 on Wednesday. SPX Technologies has a 12 month low of $107.23 and a 12 month high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 1.33 and a beta of 1.29. The business’s 50-day moving average price is $146.96 and its 200-day moving average price is $155.53.

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.