SPX Technologies (NYSE:SPXC) Price Target Cut to $225.00 by Analysts at Wells Fargo & Company

SPX Technologies (NYSE:SPXC) had its price target reduced by Wells Fargo & Company from $270.00 to $225.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of SPX Technologies in a research report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 price objective for the company. Oppenheimer raised their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. B. Riley Financial restated a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $240.00 to $280.00 in a report on Friday, February 13th. Finally, BMO Capital Markets assumed coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.67.

SPX Technologies Stock Performance

SPXC stock opened at $204.13 on Wednesday. The stock’s 50 day simple moving average is $216.19 and its 200 day simple moving average is $207.63. SPX Technologies has a 12-month low of $115.00 and a 12-month high of $246.68. The firm has a market cap of $10.18 billion, a P/E ratio of 40.74, a P/E/G ratio of 1.53 and a beta of 1.30. 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 (NYSE:SPXC) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, equities research analysts predict that SPX Technologies will post 5.57 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

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