SPX Technologies (NYSE:SPXC) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

SPX Technologies (NYSE:SPXC) had its price objective reduced by JPMorgan Chase & Co. from $282.00 to $225.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Wolfe Research began coverage on shares of SPX Technologies in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $250.00 price objective on the stock. Weiss Ratings lowered shares of SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 21st. Robert W. Baird assumed coverage on shares of SPX Technologies in a research report on Monday, October 5th. They set an “outperform” rating and a $220.00 price objective for the company. B. Riley Financial boosted their target price on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Oppenheimer dropped their target price on SPX Technologies from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and an average target price of $248.09.

SPX Technologies Stock Down 0.0%

SPXC stock opened at $169.44 on Friday. The company’s 50 day moving average price is $192.82 and its 200 day moving average price is $208.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. SPX Technologies has a fifty-two week low of $166.17 and a fifty-two week high of $251.08. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 1.09 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, beating 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 analysts’ expectations of $640.18 million. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s 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 research analysts anticipate that SPX Technologies will post 8.48 EPS for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its position in shares of SPX Technologies by 181.2% during the 2nd quarter. Hsbc Holdings PLC now owns 9,106 shares of the company’s stock worth $2,222,000 after buying an additional 5,868 shares during the last quarter. Amundi boosted its holdings in shares of SPX Technologies by 31.2% in the 2nd quarter. Amundi now owns 324,732 shares of the company’s stock valued at $79,645,000 after buying an additional 77,148 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of SPX Technologies in the 1st quarter valued at $1,000,000. Squarepoint Ops LLC purchased a new position in shares of SPX Technologies in the 2nd quarter valued at $14,194,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of SPX Technologies in the 2nd quarter valued at $4,903,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

About SPX Technologies

SPX Technologies, Inc is a diversified industrial technology company headquartered in Charlotte, North Carolina. The company designs, manufactures and services highly engineered products and solutions used by customers in the heating, ventilation and air-conditioning (HVAC), infrastructure and industrial markets.

SPX’s HVAC businesses provide cooling towers, evaporative and air-cooled cooling systems, boilers, heat-transfer equipment, air-handling products and related services. Its brands include Marley, Recold, Weil-McLain, Patterson-Kelley, Berko and QMark.