Truist Financial reiterated their buy rating on shares of SPX Technologies (NYSE:SPXC – Free Report) in a research report report published on Monday,Benzinga reports. Truist Financial currently has a $233.00 price target on the stock, down from their prior price target of $266.00.
Other analysts also recently issued research reports about the stock. Robert W. Baird began coverage on shares of SPX Technologies in a research report on Monday, October 5th. They issued an “outperform” rating and a $220.00 price target for the company. Vertical Research began coverage on shares of SPX Technologies in a report on Monday, September 28th. They set a “buy” rating and a $215.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of SPX Technologies from $250.00 to $243.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. JPMorgan Chase & Co. reduced their price objective on shares of SPX Technologies from $282.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Finally, Citigroup reissued a “buy” rating on shares of SPX Technologies in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, SPX Technologies has an average rating of “Moderate Buy” and a consensus price target of $240.36.
Check Out Our Latest Stock Analysis on SPXC
SPX Technologies Stock Down 6.2%
SPXC stock opened at $153.29 on Monday. The stock’s 50 day simple moving average is $175.98 and its 200 day simple moving average is $206.72. SPX Technologies has a fifty-two week low of $148.17 and a fifty-two week high of $251.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.84. The company has a market cap of $7.68 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26.
SPX Technologies (NYSE:SPXC – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.09. The firm had revenue of $714.50 million during the quarter, compared to analysts’ expectations of $710.38 million. SPX Technologies had a return on equity of 16.96% and a net margin of 11.48%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. On average, research analysts expect that SPX Technologies will post 8.39 earnings per share for the current fiscal year.
Hedge Funds Weigh In On SPX Technologies
Several institutional investors have recently modified their holdings of the business. Group One Trading LLC bought a new position in SPX Technologies during the second quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SPX Technologies in the second quarter worth about $47,000. Summit Securities Group LLC bought a new stake in SPX Technologies in the first quarter worth about $51,000. Parallel Advisors LLC raised its position in SPX Technologies by 38.1% in the first quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in SPX Technologies in the second quarter valued at about $70,000. 92.82% of the stock is owned by institutional investors.
SPX Technologies Company Profile
SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.
SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.
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