Wall Street Zen lowered shares of SPX Technologies (NYSE:SPXC – Free Report) from a buy rating to a hold rating in a research note issued to investors on Sunday,Wall Street Zen reports.
SPXC has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of SPX Technologies from $250.00 to $243.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Oppenheimer cut their price objective on shares of SPX Technologies from $265.00 to $260.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. JPMorgan Chase & Co. cut 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. Wolfe Research began coverage on shares of SPX Technologies in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $250.00 price objective for the company. Finally, Robert W. Baird began coverage on shares of SPX Technologies in a research note on Monday, October 5th. They set an “outperform” rating and a $220.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.90.
Get Our Latest Research Report on SPXC
SPX Technologies Trading Down 0.6%
Shares of NYSE:SPXC opened at $150.03 on Friday. SPX Technologies has a 12-month low of $137.86 and a 12-month high of $251.08. The company has a market capitalization of $7.52 billion, a PE ratio of 19.35, a PEG ratio of 1.00 and a beta of 1.26. The business has a 50 day moving average of $171.50 and a two-hundred day moving average of $205.27. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51.
SPX Technologies (NYSE:SPXC – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.12 by $0.09. The business had revenue of $714.50 million for the quarter, compared to analyst estimates of $710.38 million. SPX Technologies had a return on equity of 16.96% and a net margin of 11.48%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS. As a group, analysts forecast that SPX Technologies will post 8.39 EPS for the current year.
Insider Transactions at SPX Technologies
In related news, Director Brian A. Deck purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average price of $140.75 per share, with a total value of $140,750.00. Following the acquisition, the director owned 4,742 shares in the company, valued at $667,436.50. The trade was a 26.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.88% of the company’s stock.
Institutional Trading of SPX Technologies
Several institutional investors have recently modified their holdings of the stock. Group One Trading LLC acquired a new position in shares of SPX Technologies during the 2nd quarter worth about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in SPX Technologies in the 2nd quarter valued at about $47,000. Rothschild Investment LLC boosted its holdings in SPX Technologies by 229.0% in the 3rd quarter. Rothschild Investment LLC now owns 204 shares of the company’s stock worth $35,000 after buying an additional 142 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in SPX Technologies in the 2nd quarter worth about $70,000. Finally, Allworth Financial LP purchased a new stake in SPX Technologies during the 2nd quarter worth approximately $70,000. Institutional investors and hedge funds own 92.82% of the company’s stock.
SPX Technologies Company Profile
SPX Technologies, Inc. is a global supplier of engineered products and technologies, serving customers in markets that include commercial and residential buildings, infrastructure, and industrial applications. The company operates through its HVAC and Detection and Measurement businesses. Its HVAC products include cooling towers, boilers, heating equipment, ventilation and air treatment systems, and related components. Its Detection and Measurement business provides technologies used to locate and inspect underground utilities, as well as communication and measurement products for specialized applications.
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