SPX Technologies, Inc. (NYSE:SPXC) Short Interest Down 42.6% in June

SPX Technologies, Inc. (NYSE:SPXC) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 1,038,177 shares, a drop of 42.6% from the June 15th total of 1,808,706 shares. Based on an average daily trading volume, of 1,363,957 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SPXC shares. BMO Capital Markets began coverage on shares of SPX Technologies in a report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Truist Financial increased their price target on SPX Technologies from $261.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, 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 report on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $254.50.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors have recently modified their holdings of SPXC. Ares Financial Consulting LLC purchased a new position in SPX Technologies during the fourth quarter worth approximately $37,000. Flagship Harbor Advisors LLC purchased a new stake in shares of SPX Technologies in the fourth quarter valued at approximately $40,000. Sound Income Strategies LLC acquired a new position in shares of SPX Technologies during the 4th quarter worth approximately $45,000. Hazlett Burt & Watson Inc. raised its stake in shares of SPX Technologies by 56.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after buying an additional 85 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of SPX Technologies during the 1st quarter valued at approximately $51,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of NYSE SPXC traded down $4.11 during midday trading on Friday, reaching $211.85. 1,435,492 shares of the stock were exchanged, compared to its average volume of 897,457. 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 firm has a market cap of $10.61 billion, a price-to-earnings ratio of 41.46, a PEG ratio of 1.59 and a beta of 1.27. The firm has a 50-day simple moving average of $222.72 and a two-hundred day simple moving average of $217.11. SPX Technologies has a twelve month low of $171.31 and a twelve month high of $251.08.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm had revenue of $566.80 million during the quarter, compared to analysts’ expectations of $557.62 million. During the same period in the previous year, the business posted $1.38 EPS. The business’s revenue was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, analysts anticipate that SPX Technologies will post 7.98 EPS for the current fiscal year.

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.