SPX Technologies (NYSE:SPXC) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of SPX Technologies (NYSE:SPXC) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $250.00 target price on the stock.

Several other brokerages have also recently issued reports on SPXC. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial restated a “buy” rating and issued a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 target price (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. B. Riley Financial lifted their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of SPX Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $264.89.

SPX Technologies Trading Up 0.8%

Shares of NYSE:SPXC opened at $180.06 on Tuesday. The company has a 50 day moving average of $205.75 and a 200-day moving average of $212.46. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The firm has a market cap of $9.02 billion, a P/E ratio of 32.39, a P/E/G ratio of 1.16 and a beta of 1.27. SPX Technologies has a twelve month low of $176.21 and a twelve month high of $251.08.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same quarter last year, the business earned $1.65 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, analysts anticipate that SPX Technologies will post 8.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of SPX Technologies during the second quarter worth $1,189,365,000. Jupiter Topco LLC purchased a new position in SPX Technologies in the 2nd quarter worth about $465,593,000. Capital International Investors purchased a new position in SPX Technologies in the 4th quarter worth about $307,494,000. First Trust Advisors LP raised its holdings in SPX Technologies by 181.4% during the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock worth $272,492,000 after buying an additional 878,494 shares during the period. Finally, Geode Capital Management LLC raised its holdings in SPX Technologies by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after buying an additional 63,889 shares during the period. 92.82% of the stock is owned by institutional investors.

About SPX Technologies

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.