SPX Technologies (NYSE:SPXC) Rating Increased to Strong-Buy at Zacks Research

SPX Technologies (NYSE:SPXC) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Wolfe Research reissued an “outperform” rating and issued a $266.00 price target on shares of SPX Technologies in a report on Thursday, July 9th. Truist Financial restated a “buy” rating and issued a $301.00 target price (up from $295.00) on shares of SPX Technologies in a research report on Monday. B. Riley Financial upped their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Oppenheimer reiterated an “outperform” rating and set a $280.00 price target (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $266.67.

SPX Technologies Stock Down 0.4%

SPXC stock opened at $215.01 on Tuesday. The stock has a 50-day simple moving average of $224.68 and a two-hundred day simple moving average of $217.73. SPX Technologies has a twelve month low of $179.62 and a twelve month high of $251.08. The firm has a market capitalization of $10.77 billion, a PE ratio of 38.67, a PEG ratio of 1.41 and a beta of 1.27. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.

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

Hedge Funds Weigh In On SPX Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SPXC. Ares Financial Consulting LLC bought a new stake in SPX Technologies in the fourth quarter valued at approximately $37,000. Flagship Harbor Advisors LLC bought a new position in shares of SPX Technologies in the fourth quarter worth approximately $40,000. Sound Income Strategies LLC bought a new position in shares of SPX Technologies in the fourth quarter worth approximately $45,000. Hazlett Burt & Watson Inc. increased its stake in shares of SPX Technologies by 56.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after buying an additional 85 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of SPX Technologies by 21.4% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after buying an additional 45 shares during the period. 92.82% of the stock is currently owned by institutional investors.

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.