SPX Technologies (NYSE:SPXC) Upgraded by Oppenheimer to Outperform Rating

Oppenheimer upgraded shares of SPX Technologies (NYSE:SPXC) from a market perform rating to an outperform rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have $165.00 price objective on the stock.

Several other analysts also recently issued reports on SPXC. Wolfe Research assumed coverage on SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday. Finally, UBS Group dropped their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Stock Performance

Shares of SPXC opened at $151.83 on Wednesday. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 40.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. The company’s fifty day moving average is $147.09 and its 200-day moving average is $155.51. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies has a 12 month low of $110.61 and a 12 month high of $183.83.

Institutional Trading of SPX Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC grew its holdings in SPX Technologies by 1.0% during the 4th quarter. Private Advisor Group LLC now owns 6,921 shares of the company’s stock worth $1,007,000 after acquiring an additional 68 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of SPX Technologies by 1.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company’s stock worth $632,000 after purchasing an additional 68 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of SPX Technologies by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,383 shares of the company’s stock valued at $201,000 after purchasing an additional 73 shares during the last quarter. Assetmark Inc. increased its holdings in shares of SPX Technologies by 4.7% in the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after purchasing an additional 78 shares in the last quarter. Finally, Bank of Montreal Can raised its position in SPX Technologies by 1.3% in the 4th quarter. Bank of Montreal Can now owns 6,316 shares of the company’s stock worth $919,000 after purchasing an additional 78 shares during the last quarter. 92.82% of the stock is currently 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.