SPX Technologies (NYSE:SPXC) Now Covered by BMO Capital Markets

BMO Capital Markets began coverage on shares of SPX Technologies (NYSE:SPXC) in a research note issued to investors on Friday, Marketbeat reports. The brokerage issued an outperform rating and a $243.00 price objective on the stock.

Several other research analysts also recently issued reports on SPXC. JPMorgan Chase & Co. started coverage on shares of SPX Technologies in a research report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 price target on the stock. Oppenheimer raised their price objective on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. B. Riley Financial reaffirmed a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Truist Financial upped their target price on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Finally, Wells Fargo & Company raised their price target on shares of SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.67.

SPX Technologies Stock Down 0.4%

NYSE SPXC opened at $199.75 on Friday. The stock’s 50 day simple moving average is $217.39 and its 200 day simple moving average is $207.27. SPX Technologies has a one year low of $115.00 and a one year high of $246.68. The firm has a market cap of $9.96 billion, a PE ratio of 39.87, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. The firm had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, sell-side analysts forecast that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SPXC. Vanguard Group Inc. raised its stake in shares of SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after buying an additional 232,436 shares during the last quarter. Invesco Ltd. boosted its stake in SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after acquiring an additional 722,039 shares during the last quarter. Capital International Investors acquired a new stake in SPX Technologies during the 4th quarter worth $307,494,000. Geode Capital Management LLC raised its position in shares of SPX Technologies by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock valued at $242,874,000 after acquiring an additional 63,889 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of SPX Technologies by 7.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock valued at $235,368,000 after acquiring an additional 84,117 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

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.