SPX Technologies (NYSE:SPXC) Given New $265.00 Price Target at Oppenheimer

SPX Technologies (NYSE:SPXC) had its target price decreased by equities researchers at Oppenheimer from $270.00 to $265.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 57.89% from the company’s previous close.

A number of other research firms also recently weighed in on SPXC. Wolfe Research initiated coverage on SPX Technologies in a research report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 target price for the company. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings downgraded SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. JPMorgan Chase & Co. cut their price objective on shares of SPX Technologies from $282.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Finally, Vertical Research assumed coverage on shares of SPX Technologies in a research note on Monday, September 28th. They set a “buy” rating and a $215.00 price objective on the stock. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.00.

SPX Technologies Stock Performance

SPXC traded up $3.60 during trading on Wednesday, hitting $167.84. The stock had a trading volume of 285,646 shares, compared to its average volume of 562,479. The company has a 50 day moving average price of $186.18 and a 200-day moving average price of $207.08. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 1.07 and a beta of 1.24. SPX Technologies has a one year low of $161.61 and a one year high of $251.08. 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 (NYSE:SPXC) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.85 by $0.17. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. SPX Technologies’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, research analysts predict that SPX Technologies will post 8.48 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of SPX Technologies during the 2nd quarter worth about $1,189,365,000. Jupiter Topco LLC purchased a new stake in shares of SPX Technologies during the second quarter valued at approximately $465,593,000. First Trust Advisors LP increased its position in shares of SPX Technologies by 181.4% during the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock valued at $272,492,000 after purchasing an additional 878,494 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of SPX Technologies by 5.9% during the 1st quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock worth $153,011,000 after purchasing an additional 42,921 shares during the period. Finally, Principal Financial Group Inc. grew its position in SPX Technologies by 4.1% during the first quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock valued at $89,060,000 after buying an additional 17,524 shares during the period. Institutional investors own 92.82% of the company’s stock.

About SPX Technologies

SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.

SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.