SPX Technologies, Inc. (NYSE:SPXC) Receives Consensus Rating of “Buy” from Analysts

SPX Technologies, Inc. (NYSE:SPXC) has received a consensus recommendation of “Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $195.20.

SPXC has been the subject of a number of recent research reports. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. UBS Group lifted their price objective on shares of SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Oppenheimer boosted their price objective on shares of SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, B. Riley assumed coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They set a “buy” rating and a $195.00 target price on the stock.

Hedge Funds Weigh In On SPX Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its holdings in shares of SPX Technologies by 11.7% during the 4th quarter. Northern Trust Corp now owns 538,501 shares of the company’s stock worth $78,363,000 after purchasing an additional 56,221 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in SPX Technologies by 178.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,470 shares of the company’s stock valued at $942,000 after purchasing an additional 4,146 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in SPX Technologies during the fourth quarter worth about $279,000. Algert Global LLC grew its stake in SPX Technologies by 36.4% during the fourth quarter. Algert Global LLC now owns 16,463 shares of the company’s stock worth $2,396,000 after buying an additional 4,393 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in SPX Technologies during the fourth quarter worth about $1,321,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Down 1.5%

Shares of SPXC stock opened at $184.39 on Wednesday. SPX Technologies has a 12-month low of $115.00 and a 12-month high of $209.38. The company has a market capitalization of $8.62 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32. The firm has a 50 day moving average price of $182.47 and a two-hundred day moving average price of $156.44. The company has a quick ratio of 1.28, a current ratio of 1.97 and a debt-to-equity ratio of 0.62.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.20. The company had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts predict that SPX Technologies will post 5.57 earnings per share for the current year.

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.