Wells Fargo & Company Issues Pessimistic Forecast for SPX Technologies (NYSE:SPXC) Stock Price

SPX Technologies (NYSE:SPXC) had its price target lowered by equities research analysts at Wells Fargo & Company from $270.00 to $225.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.84% from the company’s current price.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. assumed coverage on SPX Technologies in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 price target on the stock. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Truist Financial raised SPX Technologies from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $244.00 to $243.00 in a research report on Friday, March 27th. BMO Capital Markets assumed coverage on SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective on the stock. Finally, Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $280.00 in a research note on Friday, February 13th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.67.

SPX Technologies Stock Up 2.4%

NYSE SPXC traded up $4.90 on Wednesday, hitting $204.84. 226,732 shares of the stock were exchanged, compared to its average volume of 430,568. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. SPX Technologies has a fifty-two week low of $115.00 and a fifty-two week high of $246.68. The company has a market cap of $10.22 billion, a PE ratio of 40.89, a PEG ratio of 1.46 and a beta of 1.30. The company has a 50-day moving average price of $216.53 and a 200-day moving average price of $207.66.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The company had revenue of $637.30 million for the quarter, compared to the consensus estimate of $625.98 million. During the same period in the prior year, the firm posted $1.51 EPS. The company’s quarterly 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. Sell-side analysts anticipate that SPX Technologies will post 5.57 EPS for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Several large investors have recently bought and sold shares of SPXC. Hsbc Holdings PLC grew its holdings in shares of SPX Technologies by 524.0% during the fourth quarter. Hsbc Holdings PLC now owns 10,596 shares of the company’s stock worth $2,132,000 after purchasing an additional 8,898 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in SPX Technologies by 24.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 557 shares of the company’s stock worth $111,000 after buying an additional 110 shares during the last quarter. Mengis Capital Management Inc. increased its position in SPX Technologies by 66.7% during the fourth quarter. Mengis Capital Management Inc. now owns 10,000 shares of the company’s stock worth $2,001,000 after buying an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd increased its position in SPX Technologies by 660.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 981 shares of the company’s stock worth $196,000 after buying an additional 852 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in SPX Technologies by 316.0% in the fourth quarter. Pacer Advisors Inc. now owns 10,770 shares of the company’s stock valued at $2,155,000 after buying an additional 8,181 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

About SPX Technologies

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.