JPMorgan Chase & Co. Issues Pessimistic Forecast for SPX Technologies (NYSE:SPXC) Stock Price

SPX Technologies (NYSE:SPXC) had its price target cut by JPMorgan Chase & Co. from $282.00 to $225.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 32.79% from the company’s current price.

A number of other brokerages also recently commented on SPXC. Vertical Research assumed coverage on shares of SPX Technologies in a research report on Monday, September 28th. They issued a “buy” rating and a $215.00 price objective on the stock. Robert W. Baird began coverage on SPX Technologies in a report on Monday. They issued an “outperform” rating and a $220.00 price objective on the stock. Oppenheimer cut their target price on SPX Technologies from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, October 2nd. B. Riley Financial upped their price target on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Truist Financial dropped their price target on shares of SPX Technologies from $301.00 to $266.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, SPX Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $248.09.

SPX Technologies Trading Up 0.5%

NYSE:SPXC traded up $0.86 on Friday, reaching $169.44. 342,069 shares of the company’s stock were exchanged, compared to its average volume of 563,290. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 1.11 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 business has a fifty day moving average of $193.83 and a 200-day moving average of $208.84.

SPX Technologies (NYSE:SPXC) last released its 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. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 EPS. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, analysts expect that SPX Technologies will post 8.48 earnings per share for the current year.

Institutional Trading of SPX Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in SPX Technologies by 9.6% in the third quarter. Farther Finance Advisors LLC now owns 1,259 shares of the company’s stock valued at $213,000 after buying an additional 110 shares during the last quarter. Cim Investment Management Inc. increased its holdings in shares of SPX Technologies by 21.5% in the 2nd quarter. Cim Investment Management Inc. now owns 1,551 shares of the company’s stock valued at $380,000 after acquiring an additional 274 shares during the period. QRG Capital Management Inc. purchased a new stake in SPX Technologies in the 2nd quarter valued at $293,000. Sequoia Financial Advisors LLC raised its position in SPX Technologies by 36.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,466 shares of the company’s stock valued at $1,095,000 after purchasing an additional 1,186 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in SPX Technologies by 10.7% during the 2nd quarter. Tidal Investments LLC now owns 52,384 shares of the company’s stock worth $12,843,000 after purchasing an additional 5,061 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

About SPX Technologies

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.