SPX Technologies (NYSE:SPXC) Sets New 12-Month Low – Here’s Why

Shares of SPX Technologies, Inc. (NYSE:SPXC) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $173.60 and last traded at $178.92, with a volume of 82316 shares trading hands. The stock had previously closed at $181.19.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPXC shares. Wolfe Research started coverage on SPX Technologies in a report on Tuesday, September 15th. They issued an “outperform” rating and a $250.00 target price for the company. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. B. Riley Financial boosted their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Truist Financial reaffirmed a “buy” rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Finally, Zacks Research upgraded shares of SPX Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, SPX Technologies has an average rating of “Buy” and a consensus target price of $264.89.

SPX Technologies Stock Down 3.2%

The company has a market cap of $8.78 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $204.31 and a 200 day moving average of $211.88.

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

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Group One Trading LLC purchased a new stake in SPX Technologies during the second quarter valued at approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of SPX Technologies in the 2nd quarter worth $47,000. Hazlett Burt & Watson Inc. increased its stake 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 purchasing an additional 85 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of SPX Technologies in the first quarter worth about $51,000. Finally, Hantz Financial Services Inc. raised its stake in SPX Technologies by 21.4% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.