SPX Technologies, Inc. (NYSE:SPXC) Receives $214.14 Consensus Target Price from Brokerages

SPX Technologies, Inc. (NYSE:SPXC) has earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $214.1429.

Several research analysts have commented on SPXC shares. Bank of America started coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price objective for the company. Truist Financial increased their price target on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Finally, B. Riley reissued a “buy” rating and issued a $244.00 target price (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $207.35 on Tuesday. The company has a market capitalization of $10.33 billion, a P/E ratio of 44.40, a PEG ratio of 1.74 and a beta of 1.33. SPX Technologies has a fifty-two week low of $115.00 and a fifty-two week high of $233.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. The stock has a 50 day moving average price of $210.95 and a two-hundred day moving average price of $194.31.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.60 by $0.24. The firm had revenue of $592.80 million during the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Analysts expect that SPX Technologies will post 5.57 earnings per share for the current year.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the sale, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares in the last quarter. Norges Bank bought a new stake in SPX Technologies in the second quarter worth $97,223,000. Vanguard Group Inc. boosted its holdings in SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after acquiring an additional 232,436 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of SPX Technologies in the third quarter worth $41,092,000. Finally, GW&K Investment Management LLC increased its holdings in shares of SPX Technologies by 41.0% during the third quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock valued at $102,842,000 after acquiring an additional 160,162 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.