Shares of SPX Corp (NYSE:SPXC) have been assigned an average rating of “Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $36.50.
Several research firms recently issued reports on SPXC. Zacks Investment Research upgraded SPX from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. TheStreet upgraded SPX from a “c” rating to a “b-” rating in a research note on Thursday, February 15th. Susquehanna Bancshares set a $32.00 price objective on SPX and gave the company a “hold” rating in a research note on Friday, February 16th. ValuEngine upgraded SPX from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, UBS assumed coverage on SPX in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $41.00 price objective on the stock.
SPX stock traded up $0.35 on Tuesday, reaching $31.54. The company had a trading volume of 195,677 shares, compared to its average volume of 243,201. SPX has a fifty-two week low of $21.97 and a fifty-two week high of $33.93. The company has a market capitalization of $1,344.66, a price-to-earnings ratio of 17.66 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 1.11.
SPX (NYSE:SPXC) last released its earnings results on Thursday, February 15th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). SPX had a return on equity of 31.70% and a net margin of 6.26%. The company had revenue of $387.00 million for the quarter, compared to the consensus estimate of $396.35 million. During the same quarter in the previous year, the company posted $0.69 EPS. The business’s revenue was down 2.1% on a year-over-year basis. equities research analysts anticipate that SPX will post 2.1 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Elkfork Partners LLC bought a new stake in SPX in the fourth quarter valued at approximately $159,000. Xact Kapitalforvaltning AB bought a new stake in SPX in the fourth quarter valued at approximately $239,000. Segall Bryant & Hamill LLC raised its stake in SPX by 8.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,092,056 shares of the company’s stock valued at $34,280,000 after buying an additional 86,615 shares during the period. MetLife Investment Advisors LLC bought a new stake in SPX in the fourth quarter valued at approximately $652,000. Finally, Millennium Management LLC bought a new stake in SPX in the fourth quarter valued at approximately $8,196,000. Hedge funds and other institutional investors own 86.73% of the company’s stock.
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SPX Company Profile
SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.
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