SPX Technologies (NYSE:SPXC) Announces Earnings Results, Beats Expectations By $0.01 EPS

SPX Technologies (NYSE:SPXC) posted its quarterly earnings results on Tuesday. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01, Zacks reports. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%.

SPX Technologies Stock Up 2.1 %

Shares of SPX Technologies stock traded up $2.75 during trading hours on Tuesday, hitting $136.31. 358,560 shares of the company’s stock traded hands, compared to its average volume of 295,973. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. SPX Technologies has a twelve month low of $107.23 and a twelve month high of $183.83. The stock has a 50 day simple moving average of $147.29 and a 200-day simple moving average of $155.62. The company has a market cap of $6.32 billion, a PE ratio of 36.64, a PEG ratio of 1.33 and a beta of 1.29.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of research reports. Wolfe Research assumed coverage on shares of SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 target price on the stock. UBS Group reduced their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Sidoti downgraded SPX Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $168.50.

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.