Oppenheimer Boosts SPX Technologies (NYSE:SPXC) Price Target to $140.00

SPX Technologies (NYSE:SPXC) had its target price boosted by Oppenheimer from $134.00 to $140.00 in a research report released on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms also recently issued reports on SPXC. StockNews.com downgraded SPX Technologies from a buy rating to a hold rating in a report on Friday, March 15th. UBS Group lifted their target price on SPX Technologies from $90.00 to $126.00 and gave the company a neutral rating in a research report on Wednesday, March 27th.

SPX Technologies Trading Up 2.5 %

SPXC traded up $3.33 during trading hours on Friday, reaching $134.27. The company’s stock had a trading volume of 439,639 shares, compared to its average volume of 239,471. The business’s 50-day moving average is $118.99 and its 200-day moving average is $103.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.70. The stock has a market cap of $6.21 billion, a PE ratio of 63.87, a P/E/G ratio of 1.35 and a beta of 1.24. SPX Technologies has a fifty-two week low of $70.84 and a fifty-two week high of $135.90.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.06 by $0.19. The firm had revenue of $465.20 million for the quarter, compared to analyst estimates of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. As a group, equities research analysts predict that SPX Technologies will post 5.38 earnings per share for the current fiscal year.

Insider Activity at SPX Technologies

In other news, insider John William Swann III sold 32,325 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was 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 approximately $9,747,987.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SPX Technologies news, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction 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 transaction, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the transaction, the chief executive officer now owns 667,045 shares in the company, valued at approximately $76,936,970.30. The disclosure for this sale can be found here. Insiders have sold 94,373 shares of company stock valued at $10,962,146 in the last ninety days. Insiders own 3.53% of the company’s stock.

Hedge Funds Weigh In On SPX Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new stake in SPX Technologies in the first quarter valued at $51,000. Palisade Asset Management LLC purchased a new stake in SPX Technologies during the first quarter worth about $74,000. TFO Wealth Partners LLC grew its position in SPX Technologies by 58,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after buying an additional 1,168 shares during the period. Quadrant Capital Group LLC increased its holdings in SPX Technologies by 54.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after buying an additional 475 shares in the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new stake in shares of SPX Technologies during the 1st quarter worth approximately $203,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

About SPX Technologies

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.