Truist Financial Issues Positive Forecast for SPX Technologies (NYSE:SPXC) Stock Price

SPX Technologies (NYSE:SPXC) had its price objective increased by Truist Financial from $244.00 to $251.00 in a research report released on Monday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently commented on SPXC. BMO Capital Markets began coverage on shares of SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective for the company. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. JPMorgan Chase & Co. began coverage on shares of SPX Technologies in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 price objective for the company. Wall Street Zen downgraded shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Bank of America raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $240.00 to $280.00 in a research note on Friday, February 13th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.56.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $217.53 on Monday. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 43.42, a PEG ratio of 1.72 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. The firm has a 50 day simple moving average of $215.30 and a 200 day simple moving average of $210.12. SPX Technologies has a one year low of $122.61 and a one year high of $246.68.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The business had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Research analysts predict that SPX Technologies will post 7.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its position in shares of SPX Technologies by 11.2% during the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock worth $102,890,000 after buying an additional 55,482 shares during the period. Moody Aldrich Partners LLC increased its position in shares of SPX Technologies by 18.8% during the third quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock worth $6,252,000 after buying an additional 5,290 shares during the period. Emerald Advisers LLC increased its position in shares of SPX Technologies by 13.6% during the third quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock worth $28,672,000 after buying an additional 18,403 shares during the period. Quantbot Technologies LP acquired a new stake in SPX Technologies in the third quarter worth $4,626,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in SPX Technologies by 93.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 50,785 shares of the company’s stock valued at $9,486,000 after purchasing an additional 24,537 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

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.