SPX Technologies (NYSE:SPXC – Free Report) had its price objective boosted by UBS Group from $90.00 to $126.00 in a report issued on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.
A number of other analysts have also recently issued reports on SPXC. Oppenheimer reissued an outperform rating and issued a $124.00 target price (up from $118.00) on shares of SPX Technologies in a research report on Friday, February 23rd. StockNews.com downgraded SPX Technologies from a buy rating to a hold rating in a research note on Friday, March 15th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SPX Technologies has a consensus rating of Moderate Buy and an average target price of $130.00.
Get Our Latest Analysis on SPX Technologies
SPX Technologies Stock Up 1.4 %
SPX Technologies (NYSE:SPXC – Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 earnings per share for the quarter, hitting the consensus estimate of $1.25. The business had revenue of $469.40 million during the quarter, compared to the consensus estimate of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 EPS. Analysts predict that SPX Technologies will post 5.03 EPS for the current year.
Insider Activity at SPX Technologies
In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 27,048 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the transaction, the chief executive officer now owns 597,936 shares in the company, valued at approximately $69,049,649.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $115.48, for a total value of $3,123,503.04. Following the completion of the transaction, the chief executive officer now owns 597,936 shares in the company, valued at approximately $69,049,649.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John William Swann III sold 32,325 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the sale, the insider now directly owns 82,884 shares in the company, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Insiders sold a total of 94,373 shares of company stock worth $10,962,146 over the last 90 days. Company insiders own 4.02% of the company’s stock.
Hedge Funds Weigh In On SPX Technologies
Several hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in SPX Technologies in the 2nd quarter valued at about $34,000. Harbour Investments Inc. purchased a new stake in SPX Technologies in the 4th quarter worth approximately $45,000. Huntington National Bank raised its holdings in SPX Technologies by 45.5% in the 2nd quarter. Huntington National Bank now owns 467 shares of the company’s stock valued at $40,000 after acquiring an additional 146 shares during the last quarter. Quarry LP purchased a new position in shares of SPX Technologies during the 2nd quarter worth $44,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of SPX Technologies during the second quarter worth $59,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.
SPX Technologies Company Profile
SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.
Further Reading
- Five stocks we like better than SPX Technologies
- What is a Special Dividend?
- 3 Value Stocks Too Small For Buffett’s Portfolio
- How to Use the MarketBeat Excel Dividend Calculator
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- ETF Screener: Uses and Step-by-Step Guide
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for SPX Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX Technologies and related companies with MarketBeat.com's FREE daily email newsletter.