SPX Technologies (NYSE:SPXC) Rating Lowered to “Hold” at Wall Street Zen

SPX Technologies (NYSE:SPXC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of SPX Technologies in a research report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $240.00 to $280.00 in a research report on Friday, February 13th. Truist Financial upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating and reduced their price target for the company from $244.00 to $243.00 in a research report on Friday, March 27th. Finally, Wells Fargo & Company reduced their price target on shares of SPX Technologies from $270.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.67.

SPX Technologies Stock Performance

NYSE SPXC opened at $224.45 on Friday. SPX Technologies has a 1 year low of $122.61 and a 1 year high of $246.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 1.72 and a beta of 1.34. The company has a fifty day moving average price of $215.43 and a 200-day moving average price of $209.91.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm had revenue of $637.30 million during the quarter, compared to analyst estimates of $625.98 million. During the same quarter in the prior year, the business posted $1.51 EPS. The business’s revenue was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, equities research analysts predict that SPX Technologies will post 5.57 EPS for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its holdings in SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. Lido Advisors LLC lifted its holdings in SPX Technologies by 1.6% during the fourth quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after purchasing an additional 50 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Intrust Bank NA lifted its holdings in SPX Technologies by 3.6% during the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in SPX Technologies by 7.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock valued at $188,000 after purchasing an additional 62 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.