SPX Technologies (NYSE:SPXC) Reaches New 1-Year Low – Here’s What Happened

Shares of SPX Technologies, Inc. (NYSE:SPXC) reached a new 52-week low during trading on Thursday. The stock traded as low as $165.15 and last traded at $165.0470, with a volume of 776 shares traded. The stock had previously closed at $168.23.

Analyst Upgrades and Downgrades

Several brokerages have commented on SPXC. Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings lowered SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 21st. Vertical Research began coverage on shares of SPX Technologies in a report on Monday, September 28th. They set a “buy” rating and a $215.00 target price for the company. B. Riley Financial upped their target price on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Zacks Research lowered SPX Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $247.45.

SPX Technologies Stock Down 3.2%

The stock has a fifty day moving average of $190.10 and a two-hundred day moving average of $208.00. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.11 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last issued its earnings results 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 the consensus estimate of $640.18 million. During the same quarter last year, the firm posted $1.65 EPS. The business’s revenue for the quarter 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. As a group, analysts predict that SPX Technologies, Inc. will post 8.48 EPS for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Several large investors have recently modified their holdings of SPXC. Signal Advisors Wealth LLC bought a new position in SPX Technologies during the third quarter worth $269,000. Krilogy Financial LLC bought a new stake in shares of SPX Technologies during the third quarter valued at approximately $293,000. NorthCrest Asset Manangement LLC increased its position in SPX Technologies by 1.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,410 shares of the company’s stock valued at $2,092,000 after acquiring an additional 158 shares during the period. Farther Finance Advisors LLC boosted its position in SPX Technologies by 9.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,259 shares of the company’s stock worth $213,000 after acquiring an additional 110 shares during the period. Finally, Cim Investment Management Inc. grew its position in SPX Technologies by 21.5% in the 2nd quarter. Cim Investment Management Inc. now owns 1,551 shares of the company’s stock valued at $380,000 after buying an additional 274 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Company Profile

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.