Shares of SPX Technologies, Inc. (NYSE:SPXC – Get Free Report) hit a new 52-week low during trading on Monday. The company traded as low as $169.71 and last traded at $170.02, with a volume of 132782 shares traded. The stock had previously closed at $172.79.
Wall Street Analysts Forecast Growth
SPXC has been the subject of a number of analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 target price on shares of SPX Technologies in a research report on Monday, August 3rd. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial restated a “buy” rating and set a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. B. Riley Financial lifted their target price on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Wolfe Research assumed coverage on SPX Technologies in a report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $264.89.
Check Out Our Latest Stock Report on SPX Technologies
SPX Technologies Trading Down 1.6%
SPX Technologies (NYSE:SPXC – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. During the same period in the previous year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Equities analysts forecast that SPX Technologies, Inc. will post 8.5 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of SPXC. QRG Capital Management Inc. acquired a new stake in SPX Technologies during the second quarter worth approximately $293,000. Sequoia Financial Advisors LLC grew its position in shares of SPX Technologies by 36.2% in the second 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. Tidal Investments LLC increased its stake in shares of SPX Technologies by 10.7% during the second 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. Integrated Wealth Concepts LLC acquired a new stake in SPX Technologies during the 2nd quarter worth approximately $87,000. Finally, Squarepoint Ops LLC acquired a new stake in SPX Technologies during the 2nd quarter worth approximately $14,194,000. 92.82% of the stock is owned by institutional investors.
About SPX Technologies
SPX Technologies, Inc is a Charlotte, North Carolina-based industrial technology company that provides equipment and services used in heating, ventilation, air conditioning, cooling, and infrastructure applications. The company serves customers in commercial, industrial, utility, and residential markets through operations in North America and internationally.
SPX Technologies operates through two principal segments: HVAC and Detection & Measurement. Its HVAC businesses develop and manufacture cooling towers, evaporative cooling systems, air-conditioning and heating equipment, boilers, and related products.
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