SPX Technologies (NYSE:SPXC) Stock Rating Upgraded by Truist Financial

SPX Technologies (NYSE:SPXC) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a report released on Friday, MarketBeat Ratings reports. The firm currently has a $243.00 price objective on the stock, down from their prior price objective of $244.00. Truist Financial’s target price would indicate a potential upside of 21.65% from the company’s current price.

Several other research firms have also issued reports on SPXC. JPMorgan Chase & Co. assumed coverage on SPX Technologies in a report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 target price on the stock. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $240.00 to $280.00 in a research note on Friday, February 13th. BMO Capital Markets began coverage on shares of SPX Technologies in a research report on Friday. They set an “outperform” rating and a $243.00 price objective for the company. Wells Fargo & Company raised their target price on shares of SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Finally, Oppenheimer boosted their target price 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. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $249.67.

SPX Technologies Stock Down 0.4%

Shares of SPXC opened at $199.75 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22. SPX Technologies has a 12 month low of $115.00 and a 12 month high of $246.68. The firm’s 50 day moving average is $217.39 and its 200-day moving average is $207.42. The stock has a market capitalization 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 (NYSE:SPXC) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $625.98 million. During the same period in the previous year, the company posted $1.51 earnings per share. The firm’s revenue for the quarter 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 research analysts forecast that SPX Technologies will post 5.57 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

Several 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 shares of SPX Technologies in the third quarter worth $28,000. Cullen Frost Bankers Inc. raised its position in SPX Technologies by 52.9% during the 3rd 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. raised its position in SPX Technologies by 110.5% during the 3rd 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 acquired a new position in SPX Technologies during the 2nd quarter worth about $31,000. Finally, Financial Consulate Inc. bought a new stake in shares of SPX Technologies in the 3rd quarter valued at about $34,000. 92.82% of the stock is 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.