Several analysts have recently updated their ratings and price targets for SPX (NYSE: SPXC):
- 11/12/2018 – SPX was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
- 11/8/2018 – SPX was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “SPX Corporation (NYSE: SPXC) is, along with its subsidiaries, a diversified, global supplier of infrastructure equipment with scalable growth platforms in heating, ventilation and air conditioning (HVAC), detection and measurement, and engineered solutions. HVAC solutions offered include cooling towers, residential and commercial boilers and comfort heating products. The detection and measurement products encompass underground locators and inspection equipment, fare collection systems, communication technologies and specialty lighting. Within the engineered solutions platform, SPX Corporation is a leading manufacturer of medium and large electrical transformers, as well as cooling towers and heat exchangers for industrial applications. With operations in 15 countries and approximately $1.5 billion in annual revenue, SPX offers a wide array of highly engineered products with strong brands. Based in Charlotte, North Carolina, SPX Corporation employs approximately 5,000 people worldwide. “
- 11/6/2018 – SPX was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
- 11/2/2018 – SPX had its price target lowered by analysts at Buckingham Research from $41.00 to $37.00. They now have a “buy” rating on the stock.
- 9/18/2018 – SPX is now covered by analysts at Buckingham Research. They set a “buy” rating and a $41.00 price target on the stock.
SPX stock traded down $0.10 during midday trading on Tuesday, reaching $29.37. The company’s stock had a trading volume of 217,823 shares, compared to its average volume of 226,636. The stock has a market cap of $1.27 billion, a PE ratio of 16.50 and a beta of 1.48. The company has a quick ratio of 0.91, a current ratio of 1.18 and a debt-to-equity ratio of 0.92. SPX Corp has a 52 week low of $28.21 and a 52 week high of $39.28.
SPX (NYSE:SPXC) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.09). The firm had revenue of $362.50 million for the quarter, compared to the consensus estimate of $348.90 million. SPX had a return on equity of 25.23% and a net margin of 6.79%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, analysts expect that SPX Corp will post 2.15 earnings per share for the current year.
SPX Corporation supplies infrastructure equipment serving the heating and ventilation (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. It operates through three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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