SPX Technologies (NYSE:SPXC) Stock Rating Upgraded by Wall Street Zen

SPX Technologies (NYSE:SPXC) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other research analysts have also issued reports about the company. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price objective on shares of SPX Technologies in a research report on Monday, August 3rd. B. Riley Financial upped their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Oppenheimer reiterated an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Zacks Research upgraded SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $266.67.

SPX Technologies Stock Performance

NYSE SPXC opened at $216.23 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. SPX Technologies has a 1-year low of $179.62 and a 1-year high of $251.08. The firm has a market capitalization of $10.83 billion, a P/E ratio of 38.89, a P/E/G ratio of 1.41 and a beta of 1.27. The business’s 50-day simple moving average is $224.68 and its 200-day simple moving average is $217.70.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. During the same quarter in the prior year, the company earned $1.65 EPS. The company’s revenue was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Equities analysts predict that SPX Technologies will post 8.47 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Creek Advisors LLC acquired a new stake in shares of SPX Technologies in the 2nd quarter valued at about $226,000. BlackRock Inc. acquired a new stake in SPX Technologies during the second quarter valued at approximately $1,189,365,000. Pallas Capital Advisors LLC acquired a new stake in SPX Technologies during the second quarter valued at approximately $266,000. Deutsche Bank AG bought a new position in SPX Technologies during the 2nd quarter worth approximately $9,489,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in SPX Technologies during the 2nd quarter worth approximately $47,000. Institutional investors own 92.82% of the company’s stock.

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.