Wall Street Zen upgraded shares of SPX Technologies (NYSE:SPXC – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
A number of other analysts have also recently commented on the stock. Robert W. Baird started coverage on shares of SPX Technologies in a research note on Monday, October 5th. They issued an “outperform” rating and a $220.00 target price for the company. Weiss Ratings cut shares of SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 21st. Oppenheimer decreased their price target on shares of SPX Technologies from $270.00 to $265.00 and set an “outperform” rating for the company in a report on Wednesday, October 21st. Truist Financial lowered their price objective on shares of SPX Technologies from $301.00 to $266.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Finally, Wolfe Research started coverage on shares of SPX Technologies in a report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.82.
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SPX Technologies Price Performance
Shares of SPXC stock opened at $159.65 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The company has a market capitalization of $8.00 billion, a P/E ratio of 27.06, a P/E/G ratio of 1.04 and a beta of 1.24. The company’s 50-day simple moving average is $178.60 and its two-hundred day simple moving average is $207.51. SPX Technologies has a one year low of $148.17 and a one year high of $251.08.
SPX Technologies (NYSE:SPXC – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.09. SPX Technologies had a return on equity of 17.25% and a net margin of 11.48%. The firm had revenue of $714.50 million during the quarter, compared to the consensus estimate of $710.38 million. During the same period in the previous year, the company posted $1.84 earnings per share. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, equities analysts anticipate that SPX Technologies will post 8.43 EPS for the current year.
Institutional Trading of SPX Technologies
Hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC increased its position in SPX Technologies by 181.2% during the second quarter. Hsbc Holdings PLC now owns 9,106 shares of the company’s stock worth $2,222,000 after purchasing an additional 5,868 shares during the last quarter. Amundi raised its stake in SPX Technologies by 31.2% during the second quarter. Amundi now owns 324,732 shares of the company’s stock worth $79,645,000 after purchasing an additional 77,148 shares during the period. Renaissance Technologies LLC acquired a new position in SPX Technologies in the 1st quarter valued at about $1,000,000. Squarepoint Ops LLC acquired a new position in SPX Technologies in the 2nd quarter valued at about $14,194,000. Finally, Bank of America Corp DE acquired a new position in SPX Technologies in the 2nd quarter valued at about $86,545,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.
Key Headlines Impacting SPX Technologies
Here are the key news stories impacting SPX Technologies this week:
- Positive Sentiment: Raised 2026 outlook and data-center opportunity: Management increased its 2026 adjusted EBITDA growth forecast to approximately 25% and outlined roughly $1.1 billion of data-center-related capacity, reinforcing expectations for continued demand in cooling and HVAC infrastructure. SPX outlines data center capacity and raises EBITDA guidance
- Positive Sentiment: Third-quarter results exceeded estimates: SPX Technologies reported $714.5 million in revenue, up 20.5% year over year, and adjusted earnings of $2.21 per share versus the $2.12 consensus estimate. Revenue, operating profit and earnings all improved from the prior-year period. SPX Technologies third-quarter earnings report
- Positive Sentiment: Valuation argument remains supportive: One analysis estimates SPXC could be about 17% undervalued even after the guidance increase. The company’s growth profile is also supported by prior analyst targets substantially above its recent trading level. SPX Technologies stock may be undervalued
- Neutral Sentiment: Mixed institutional positioning: Recent filings show both additions and reductions by major investors, including purchases by Capital World Investors and sales by BlackRock, offering no clear institutional consensus. The company has comparatively moderate leverage, but quarterly capital spending and total liabilities remain important areas to monitor. SPX Technologies third-quarter financial results
- Negative Sentiment: Broader market risk is weighing on sentiment: Technical analysts warned that a break in S&P 500 support could trigger steeper selling. That market-wide caution may be pressuring SPXC even though its operating results and guidance were favorable. Market technical analysis and S&P 500 support warning
About SPX Technologies
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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