SPX Technologies (NYSE:SPXC) Trading Down 5.6% – Here’s Why

SPX Technologies, Inc. (NYSE:SPXC) dropped 5.6% on Friday . The stock traded as low as $221.71 and last traded at $220.50. Approximately 523,472 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 496,680 shares. The stock had previously closed at $233.49.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPXC. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Bank of America raised shares of SPX Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $280.00 in a report on Friday, February 13th. JPMorgan Chase & Co. boosted their price target on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price target on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets began coverage on SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.44.

SPX Technologies Trading Down 4.7%

The business’s fifty day moving average is $214.08 and its 200-day moving average is $213.86. The firm has a market cap of $11.14 billion, a P/E ratio of 43.27, a price-to-earnings-growth ratio of 1.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. The business had revenue of $566.80 million during the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Analysts predict that SPX Technologies, Inc. will post 7.98 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Optiver Holding B.V. increased its stake in shares of SPX Technologies by 110.5% in the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after buying an additional 84 shares during the period. Ares Financial Consulting LLC bought a new stake in SPX Technologies during the fourth quarter valued at $37,000. Flagship Harbor Advisors LLC bought a new stake in SPX Technologies during the fourth quarter valued at $40,000. Sound Income Strategies LLC bought a new stake in SPX Technologies during the fourth quarter valued at $45,000. Finally, Hazlett Burt & Watson Inc. boosted its position in SPX Technologies by 56.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.