SPX Technologies (NYSE:SPXC) Coverage Initiated at BMO Capital Markets

Analysts at BMO Capital Markets initiated coverage on shares of SPX Technologies (NYSE:SPXC) in a research note issued on Friday, Marketbeat reports. The brokerage set an “outperform” rating and a $243.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential upside of 21.65% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Oppenheimer raised their price objective on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. started coverage on shares of SPX Technologies in a research note on Wednesday, March 4th. They set an “overweight” rating and a $260.00 target price for the company. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, SPX Technologies has an average rating of “Moderate Buy” and an average price target of $249.67.

SPX Technologies Trading Down 0.4%

Shares of SPXC opened at $199.75 on Friday. The stock has a market cap of $9.96 billion, a PE ratio of 39.87, a P/E/G ratio of 1.53 and a beta of 1.30. SPX Technologies has a 12 month low of $115.00 and a 12 month high of $246.68. The stock’s 50-day moving average is $217.39 and its two-hundred day moving average is $207.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $625.98 million. During the same quarter last year, the company earned $1.51 earnings per share. The business’s quarterly 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. Equities analysts forecast that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Capital International Investors acquired a new stake in shares of SPX Technologies during the fourth quarter worth approximately $307,494,000. Invesco Ltd. boosted its holdings in shares of SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after acquiring an additional 722,039 shares in the last quarter. Norges Bank bought a new stake in SPX Technologies during the 4th quarter worth approximately $123,721,000. Vanguard Group Inc. grew its position in SPX Technologies by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after acquiring an additional 232,436 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new stake in SPX Technologies during the 3rd quarter valued at $41,092,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Company Profile

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.