SPX Technologies (NYSE:SPXC) Price Target Raised to $270.00

SPX Technologies (NYSE:SPXC) had its price target boosted by analysts at JPMorgan Chase & Co. from $260.00 to $270.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 26.82% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. Bank of America raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Finally, BMO Capital Markets assumed coverage on shares of SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

SPX Technologies Price Performance

NYSE SPXC traded up $5.09 during trading hours on Wednesday, hitting $212.90. 467,821 shares of the company’s stock traded hands, compared to its average volume of 463,614. The firm’s 50-day moving average is $211.76 and its 200-day moving average is $212.11. SPX Technologies has a 52-week low of $147.39 and a 52-week high of $246.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. The company has a market capitalization of $10.68 billion, a PE ratio of 41.66, a PEG ratio of 1.48 and a beta of 1.31.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business had revenue of $566.80 million during the quarter, compared to analysts’ expectations of $557.62 million. During the same quarter in the prior year, the company posted $1.38 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities analysts forecast that SPX Technologies will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its holdings in shares of SPX Technologies by 21.4% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of SPX Technologies by 1.6% in the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after purchasing an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. Intrust Bank NA raised its holdings in shares of SPX Technologies by 3.6% in the 4th quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock valued at $332,000 after purchasing an additional 58 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in shares of SPX Technologies by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock valued at $286,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.