SPX Technologies (NYSE:SPXC) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of SPX Technologies (NYSE:SPXC) from a hold rating to a buy rating in a research report released on Saturday morning.

SPXC has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Truist Financial reaffirmed a “buy” rating and issued a $301.00 target price (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Finally, B. Riley Financial raised their price objective on shares of SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $266.67.

SPX Technologies Price Performance

Shares of SPXC opened at $216.23 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. SPX Technologies has a 1-year low of $179.62 and a 1-year high of $251.08. The stock has a market cap of $10.83 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The firm has a fifty day moving average price of $224.68 and a 200 day moving average price of $217.70.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, sell-side analysts anticipate that SPX Technologies will post 8.47 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SPXC. Royal Bank of Canada boosted its stake in shares of SPX Technologies by 8.1% during the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after acquiring an additional 2,892 shares in the last quarter. AQR Capital Management LLC grew its holdings in SPX Technologies by 74.5% in the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after purchasing an additional 8,854 shares during the last quarter. Millennium Management LLC grew its holdings in SPX Technologies by 214.4% in the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after purchasing an additional 56,799 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after buying an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock worth $24,742,000 after buying an additional 3,353 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

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.