SPX Technologies (NYSE:SPXC) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of SPX Technologies (NYSE:SPXC) in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $205.00 target price on the stock.

A number of other analysts have also recently issued reports on the stock. Bank of America initiated coverage on shares of SPX Technologies in a research note on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price objective for the company. Oppenheimer increased their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of SPX Technologies in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, UBS Group boosted their target price on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $197.57.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $182.73 on Tuesday. The firm has a 50 day moving average of $187.73 and a 200 day moving average of $166.92. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. SPX Technologies has a 12-month low of $115.00 and a 12-month high of $209.38.

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

Institutional Investors Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SPXC. Farther Finance Advisors LLC raised its stake in shares of SPX Technologies by 18.5% in the first quarter. Farther Finance Advisors LLC now owns 628 shares of the company’s stock valued at $83,000 after acquiring an additional 98 shares during the period. GAMMA Investing LLC grew its holdings in shares of SPX Technologies by 102.3% in the first quarter. GAMMA Investing LLC now owns 1,076 shares of the company’s stock worth $139,000 after purchasing an additional 544 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of SPX Technologies in the first quarter worth about $843,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of SPX Technologies by 8.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,892 shares of the company’s stock worth $372,000 after purchasing an additional 218 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of SPX Technologies by 5.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,490 shares of the company’s stock worth $578,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.