JPMorgan Chase & Co. Initiates Coverage on SPX Technologies (NYSE:SPXC)

Stock analysts at JPMorgan Chase & Co. started coverage on shares of SPX Technologies (NYSE:SPXC) in a report released on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $260.00 price target on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 22.65% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen restated a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Truist Financial upped their price target on SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Wells Fargo & Company raised their price objective on SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $240.00 to $280.00 in a research note on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $250.63.

SPX Technologies Price Performance

Shares of SPXC stock opened at $211.99 on Wednesday. The business’s fifty day moving average is $219.09 and its 200 day moving average is $205.71. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 1.72 and a beta of 1.30. SPX Technologies has a twelve month low of $115.00 and a twelve month high of $246.68.

SPX Technologies (NYSE:SPXC) last announced 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 analyst estimates of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Research analysts expect that SPX Technologies will post 5.57 EPS for the current fiscal year.

Insider Activity at SPX Technologies

In other news, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares in the company, valued at $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On SPX Technologies

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

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.