SPX Technologies, Inc. (NYSE:SPXC) Given Average Rating of “Moderate Buy” by Analysts

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $174.75.

A number of equities research analysts recently weighed in on the stock. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Wednesday, February 26th. UBS Group decreased their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th.

SPX Technologies Trading Up 11.9 %

Shares of SPX Technologies stock opened at $135.03 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The stock has a 50 day moving average price of $139.04 and a two-hundred day moving average price of $151.19. SPX Technologies has a 52 week low of $115.00 and a 52 week high of $183.83. The stock has a market capitalization of $6.32 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SPXC. Allworth Financial LP boosted its stake in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock valued at $25,000 after buying an additional 90 shares during the period. Empowered Funds LLC purchased a new stake in shares of SPX Technologies in the 4th quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of SPX Technologies by 377.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after purchasing an additional 185 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of SPX Technologies in the first quarter worth approximately $27,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.