SPX Technologies (NYSE:SPXC) Upgraded at B. Riley

B. Riley upgraded shares of SPX Technologies (NYSE:SPXC) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on SPXC. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $178.80.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $156.24 on Wednesday. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 1.33 and a beta of 1.21. The business has a 50-day moving average of $135.89 and a 200-day moving average of $147.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies has a fifty-two week low of $115.00 and a fifty-two week high of $183.83.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.22. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same period last year, the business posted $1.25 EPS. SPX Technologies’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Trading of SPX Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of SPXC. Barclays PLC grew its stake in shares of SPX Technologies by 299.0% in the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock worth $13,485,000 after purchasing an additional 63,373 shares during the last quarter. KBC Group NV lifted its holdings in SPX Technologies by 2,109.8% in the fourth quarter. KBC Group NV now owns 28,617 shares of the company’s stock valued at $4,164,000 after buying an additional 27,322 shares during the period. Venturi Wealth Management LLC acquired a new position in SPX Technologies in the fourth quarter valued at $331,000. Comerica Bank lifted its holdings in SPX Technologies by 25.4% in the fourth quarter. Comerica Bank now owns 86,267 shares of the company’s stock valued at $12,554,000 after buying an additional 17,472 shares during the period. Finally, Arizona State Retirement System lifted its holdings in SPX Technologies by 0.9% in the fourth quarter. Arizona State Retirement System now owns 13,436 shares of the company’s stock valued at $1,955,000 after buying an additional 123 shares during the period. Institutional investors own 92.82% of the company’s stock.

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.