SPX Technologies (NYSE:SPXC) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of SPX Technologies (NYSE:SPXC) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other analysts also recently commented on the company. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Wells Fargo & Company lowered their price objective on SPX Technologies from $270.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. BMO Capital Markets began coverage on SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective for the company. Finally, Oppenheimer increased their price objective on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, SPX Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $244.67.

SPX Technologies Stock Performance

Shares of SPX Technologies stock opened at $224.45 on Friday. The company has a market cap of $11.26 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 1.65 and a beta of 1.34. SPX Technologies has a 52 week low of $122.61 and a 52 week high of $246.68. The business has a 50 day moving average price of $215.43 and a 200-day moving average price of $209.75. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, topping the consensus estimate 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 return on equity of 17.82% and a net margin of 10.77%.The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Equities analysts anticipate that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Trading of SPX Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its position in shares of SPX Technologies by 11.2% during the third quarter. Principal Financial Group Inc. now owns 550,863 shares of the company’s stock valued at $102,890,000 after acquiring an additional 55,482 shares during the last quarter. Moody Aldrich Partners LLC increased its position in SPX Technologies by 18.8% in the third quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock worth $6,252,000 after buying an additional 5,290 shares during the last quarter. Emerald Advisers LLC increased its position in SPX Technologies by 13.6% in the third quarter. Emerald Advisers LLC now owns 153,507 shares of the company’s stock worth $28,672,000 after buying an additional 18,403 shares during the last quarter. Voya Investment Management LLC increased its position in SPX Technologies by 36.6% in the third quarter. Voya Investment Management LLC now owns 186,359 shares of the company’s stock worth $34,808,000 after buying an additional 49,884 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in SPX Technologies in the third quarter worth $4,626,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

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.