SPX Technologies, Inc. (NYSE:SPXC) Given Average Rating of “Buy” by Analysts

SPX Technologies, Inc. (NYSE:SPXC) has earned a consensus rating of “Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $266.6667.

A number of equities research analysts recently commented on SPXC shares. Oppenheimer reiterated an “outperform” rating and issued a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. Wolfe Research reissued an “outperform” rating and issued a $266.00 price objective on shares of SPX Technologies in a research note on Thursday, July 9th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 target price on shares of SPX Technologies in a research note on Monday, August 3rd. Truist Financial reiterated a “buy” rating and issued a $301.00 price target (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Finally, Zacks Research raised SPX Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th.

SPX Technologies Trading Up 2.5%

SPX Technologies stock opened at $191.58 on Friday. The stock has a market cap of $9.60 billion, a P/E ratio of 34.46, a PEG ratio of 1.25 and a beta of 1.27. 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 firm’s 50 day moving average price is $208.98 and its 200-day moving average price is $214.09.

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

Institutional Investors Weigh In On SPX Technologies

Several large investors have recently added to or reduced their stakes in SPXC. Group One Trading LLC purchased a new position in SPX Technologies during the 2nd quarter worth $32,000. Hazlett Burt & Watson Inc. raised its position in shares of SPX Technologies by 56.7% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after acquiring an additional 85 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of SPX Technologies during the 2nd quarter worth $47,000. Hantz Financial Services Inc. boosted its position in SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in SPX Technologies during the first quarter valued at about $51,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

SPX Technologies, Inc is a Charlotte, North Carolina-based industrial technology company that provides equipment and services used in heating, ventilation, air conditioning, cooling, and infrastructure applications. The company serves customers in commercial, industrial, utility, and residential markets through operations in North America and internationally.

SPX Technologies operates through two principal segments: HVAC and Detection & Measurement. Its HVAC businesses develop and manufacture cooling towers, evaporative cooling systems, air-conditioning and heating equipment, boilers, and related products.