SPX Technologies, Inc. (NYSE:SPXC) Receives Average Recommendation of “Moderate Buy” from Brokerages

SPX Technologies, Inc. (NYSE:SPXC) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $255.30.

Several equities research analysts recently issued reports on SPXC shares. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Wolfe Research restated an “outperform” rating and set a $266.00 target price on shares of SPX Technologies in a research note on Thursday, July 9th. BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 target price on the stock. Finally, Truist Financial boosted their price target on SPX Technologies from $261.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors have recently made changes to their positions in SPXC. Annex Advisory Services LLC purchased a new position in shares of SPX Technologies during the 2nd quarter valued at approximately $224,000. Tema ETFs LLC grew its position in shares of SPX Technologies by 3.9% during the second quarter. Tema ETFs LLC now owns 48,375 shares of the company’s stock worth $11,860,000 after buying an additional 1,800 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of SPX Technologies by 6.2% in the second quarter. Handelsbanken Fonder AB now owns 15,409 shares of the company’s stock worth $3,778,000 after buying an additional 900 shares during the last quarter. Gradient Investments LLC bought a new stake in shares of SPX Technologies in the second quarter worth $820,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in SPX Technologies by 16.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,291 shares of the company’s stock valued at $807,000 after acquiring an additional 468 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Trading Up 0.2%

SPXC opened at $220.27 on Friday. The firm has a market capitalization of $11.03 billion, a P/E ratio of 43.11, a P/E/G ratio of 1.61 and a beta of 1.27. The firm’s 50 day moving average is $224.30 and its 200-day moving average is $217.64. SPX Technologies has a 52-week low of $175.00 and a 52-week high of $251.08. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28.

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