Analysts Set SPX Technologies, Inc. (NYSE:SPXC) Price Target at $249.44

Shares of SPX Technologies, Inc. (NYSE:SPXC) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $249.4444.

Several analysts recently commented on the company. Truist Financial lifted their price objective on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Monday, May 4th. BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective on the stock. Wells Fargo & Company boosted their price objective on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial restated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st.

SPX Technologies Trading Up 4.8%

SPXC opened at $234.43 on Friday. The stock has a market cap of $11.74 billion, a PE ratio of 45.88, a PEG ratio of 1.64 and a beta of 1.28. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $214.08 and a 200-day moving average of $213.86. SPX Technologies has a 52 week low of $152.79 and a 52 week high of $246.68.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in SPX Technologies by 38.1% during the 1st quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares in the last quarter. Cim Investment Management Inc. boosted its position in shares of SPX Technologies by 22.4% in the 1st quarter. Cim Investment Management Inc. now owns 1,277 shares of the company’s stock worth $255,000 after purchasing an additional 234 shares in the last quarter. Bank of America Corp DE boosted its position in shares of SPX Technologies by 13.0% in the 1st quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock worth $63,358,000 after purchasing an additional 36,340 shares in the last quarter. Janus Henderson Group PLC raised its stake in SPX Technologies by 5.9% in the 1st quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock worth $153,011,000 after acquiring an additional 42,921 shares during the last quarter. Finally, Cim LLC raised its stake in SPX Technologies by 17.7% in the 1st quarter. Cim LLC now owns 11,917 shares of the company’s stock worth $2,383,000 after acquiring an additional 1,793 shares during the last quarter. Institutional investors 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.