SPX Technologies (NYSE:SPXC) Stock Rating Upgraded by Robert W. Baird

SPX Technologies (NYSE:SPXC) was upgraded by Robert W. Baird to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

SPXC has been the topic of a number of other reports. Oppenheimer lowered their price target on shares of SPX Technologies from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 target price on shares of SPX Technologies in a research note on Monday, August 3rd. Wolfe Research started coverage on shares of SPX Technologies in a report on Tuesday, September 15th. They issued an “outperform” rating and a $250.00 price target on the stock. Vertical Research started coverage on SPX Technologies in a research note on Monday, September 28th. They issued a “buy” rating and a $215.00 price target for the company. Finally, Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.18.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $176.22 on Monday. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 1.15 and a beta of 1.24. SPX Technologies has a 52-week low of $166.17 and a 52-week high of $251.08. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $194.78 and its 200 day moving average is $209.19.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.17. The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, sell-side analysts anticipate that SPX Technologies will post 8.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cim Investment Management Inc. raised its position in SPX Technologies by 21.5% during the second quarter. Cim Investment Management Inc. now owns 1,551 shares of the company’s stock worth $380,000 after acquiring an additional 274 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of SPX Technologies during the second quarter worth about $293,000. Sequoia Financial Advisors LLC raised its position in shares of SPX Technologies by 36.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,466 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,186 shares during the last quarter. Tidal Investments LLC lifted its stake in SPX Technologies by 10.7% in the 2nd quarter. Tidal Investments LLC now owns 52,384 shares of the company’s stock valued at $12,843,000 after buying an additional 5,061 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in SPX Technologies in the 2nd quarter worth about $87,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Company Profile

SPX Technologies, Inc is a diversified industrial technology company headquartered in Charlotte, North Carolina. The company designs, manufactures and services highly engineered products and solutions used by customers in the heating, ventilation and air-conditioning (HVAC), infrastructure and industrial markets.

SPX’s HVAC businesses provide cooling towers, evaporative and air-cooled cooling systems, boilers, heat-transfer equipment, air-handling products and related services. Its brands include Marley, Recold, Weil-McLain, Patterson-Kelley, Berko and QMark.