SPX Technologies (NYSE:SPXC) Stock Rating Reaffirmed by Oppenheimer

SPX Technologies (NYSE:SPXC)‘s stock had its “outperform” rating reiterated by Oppenheimer in a research note issued to investors on Thursday, Benzinga reports. They currently have a $134.00 price target on the stock, up from their previous price target of $124.00. Oppenheimer’s price objective suggests a potential upside of 10.36% from the company’s previous close.

A number of other research analysts have also weighed in on SPXC. StockNews.com lowered SPX Technologies from a “buy” rating to a “hold” rating in a report on Friday, March 15th. UBS Group lifted their price target on SPX Technologies from $90.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SPX Technologies has a consensus rating of “Moderate Buy” and an average price target of $130.00.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $121.42 on Thursday. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 63.24, a PEG ratio of 1.33 and a beta of 1.25. SPX Technologies has a 12 month low of $61.09 and a 12 month high of $122.97. The firm’s 50 day simple moving average is $110.16 and its 200-day simple moving average is $95.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.08.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 EPS for the quarter, hitting analysts’ consensus estimates of $1.25. The business had revenue of $469.40 million for the quarter, compared to analysts’ expectations of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. Analysts expect that SPX Technologies will post 5.03 EPS for the current year.

Insider Buying and Selling

In related news, insider John William Swann III sold 32,325 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the sale, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the sale, the chief executive officer now directly owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the sale, the insider now directly owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,373 shares of company stock worth $10,962,146. Company insiders own 4.02% of the company’s stock.

Institutional Investors Weigh In On SPX Technologies

Large investors have recently modified their holdings of the company. Navellier & Associates Inc. lifted its holdings in shares of SPX Technologies by 1.4% during the third quarter. Navellier & Associates Inc. now owns 8,814 shares of the company’s stock worth $717,000 after purchasing an additional 125 shares during the period. Sequoia Financial Advisors LLC raised its position in SPX Technologies by 4.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,182 shares of the company’s stock worth $321,000 after acquiring an additional 132 shares in the last quarter. MetLife Investment Management LLC raised its position in SPX Technologies by 0.6% in the second quarter. MetLife Investment Management LLC now owns 23,086 shares of the company’s stock worth $1,962,000 after acquiring an additional 137 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in SPX Technologies by 4.1% in the second quarter. Ameritas Investment Partners Inc. now owns 3,648 shares of the company’s stock worth $310,000 after acquiring an additional 144 shares in the last quarter. Finally, Huntington National Bank raised its position in SPX Technologies by 45.5% in the second quarter. Huntington National Bank now owns 467 shares of the company’s stock worth $40,000 after acquiring an additional 146 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

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.