SPX Technologies, Inc. (NYSE:SPXC) Receives Average Recommendation of “Moderate Buy” from Brokerages

SPX Technologies, Inc. (NYSE:SPXC) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $174.75.

SPXC has been the subject of a number of recent research reports. UBS Group cut their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Wolfe Research assumed coverage on shares of SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price for the company.

Hedge Funds Weigh In On SPX Technologies

Several hedge funds have recently modified their holdings of SPXC. Allworth Financial LP increased its holdings in shares of SPX Technologies by 123.3% in the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after purchasing an additional 90 shares during the last quarter. Empowered Funds LLC bought a new stake in SPX Technologies in the 4th quarter worth approximately $27,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of SPX Technologies by 2,055.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after acquiring an additional 185 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in shares of SPX Technologies in the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

NYSE:SPXC opened at $135.71 on Friday. 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 stock has a 50-day simple moving average of $144.39 and a two-hundred day simple moving average of $153.51. The firm has a market capitalization of $6.29 billion, a PE ratio of 36.48, a P/E/G ratio of 1.33 and a beta of 1.26. SPX Technologies has a 52-week low of $116.05 and a 52-week high of $183.83.

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.