SPX Technologies (NYSE:SPXC) Trading Down 6.3% – Here’s Why

SPX Technologies, Inc. (NYSE:SPXC) fell 6.3% on Friday . The company traded as low as $187.89 and last traded at $189.5280. 154,374 shares were traded during mid-day trading, a decline of 60% from the average session volume of 382,250 shares. The stock had previously closed at $202.36.

Wall Street Analysts Forecast Growth

SPXC has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. initiated coverage on SPX Technologies in a report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 price objective on the stock. B. Riley Financial reiterated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Finally, Truist Financial boosted their target price on SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $250.63.

SPX Technologies Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 1.43 and a beta of 1.30. The firm’s 50-day moving average price is $218.66 and its 200 day moving average price is $206.97.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The business had revenue of $637.30 million for the quarter, compared to analyst estimates of $625.98 million. During the same period in the prior year, the business posted $1.51 earnings per share. SPX Technologies’s revenue was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. bought a new stake in SPX Technologies in the third quarter valued at about $28,000. Cullen Frost Bankers Inc. boosted its holdings in SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after buying an additional 54 shares during the last quarter. Optiver Holding B.V. boosted its holdings in SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock worth $30,000 after buying an additional 84 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SPX Technologies during the 2nd quarter worth about $31,000. Finally, Financial Consulate Inc. acquired a new position in shares of SPX Technologies during the 3rd quarter worth about $34,000. 92.82% of the stock is currently owned by institutional investors.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.