SPX Technologies, Inc. (NYSE:SPXC – Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 869,300 shares, a growth of 37.0% from the February 13th total of 634,600 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 302,900 shares, the short-interest ratio is currently 2.9 days.
Analyst Ratings Changes
SPXC has been the topic of several research analyst reports. Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock. UBS Group cut their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research report on Wednesday, February 26th. Finally, Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.75.
Check Out Our Latest Research Report on SPXC
Institutional Inflows and Outflows
SPX Technologies Stock Up 1.0 %
Shares of SPXC traded up $1.34 during midday trading on Monday, hitting $135.60. The company had a trading volume of 220,089 shares, compared to its average volume of 253,511. SPX Technologies has a 1 year low of $116.05 and a 1 year high of $183.83. The firm has a market capitalization of $6.29 billion, a P/E ratio of 36.45, a P/E/G ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The company’s 50-day simple moving average is $144.80 and its 200-day simple moving average is $153.95.
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.
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