SPX Technologies, Inc. (NYSE:SPXC) Receives $199.00 Consensus Price Target from Brokerages

SPX Technologies, Inc. (NYSE:SPXC) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $199.00.

A number of equities analysts recently commented on the company. Truist Financial started coverage on SPX Technologies in a research note on Monday, October 20th. They issued a “hold” rating and a $209.00 price target for the company. UBS Group boosted their price objective on SPX Technologies from $182.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of SPX Technologies in a research report on Friday. Bank of America started coverage on SPX Technologies in a research report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price objective for the company. Finally, Oppenheimer boosted their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Elser Financial Planning Inc bought a new position in shares of SPX Technologies in the third quarter valued at $1,749,000. Oregon Public Employees Retirement Fund raised its stake in SPX Technologies by 3.7% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 11,137 shares of the company’s stock valued at $2,080,000 after purchasing an additional 400 shares during the period. Nisa Investment Advisors LLC raised its stake in SPX Technologies by 4.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,399 shares of the company’s stock valued at $822,000 after purchasing an additional 192 shares during the period. SG Americas Securities LLC raised its stake in SPX Technologies by 124.8% during the 3rd quarter. SG Americas Securities LLC now owns 6,489 shares of the company’s stock valued at $1,212,000 after purchasing an additional 3,602 shares during the period. Finally, Park Avenue Securities LLC acquired a new stake in SPX Technologies during the 3rd quarter valued at $1,150,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of SPX Technologies stock opened at $194.58 on Thursday. SPX Technologies has a twelve month low of $115.00 and a twelve month high of $209.38. The stock has a market capitalization of $9.10 billion, a P/E ratio of 43.73, a PEG ratio of 1.98 and a beta of 1.37. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average price is $187.25 and its 200 day moving average price is $169.83.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The company had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. During the same period last year, the company posted $1.42 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts anticipate that SPX Technologies will post 5.57 earnings per share for the current year.

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.