SPX Technologies (NYSE:SPXC) Stock Rating Upgraded by Oppenheimer

SPX Technologies (NYSE:SPXC) was upgraded by analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday,Finviz reports. The brokerage presently has a $165.00 price target on the stock. Oppenheimer’s target price would suggest a potential upside of 21.04% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Wolfe Research began coverage on shares of SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target for the company. UBS Group cut their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.75.

SPX Technologies Stock Up 2.1 %

SPXC stock opened at $136.31 on Wednesday. SPX Technologies has a one year low of $107.23 and a one year high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The firm has a market cap of $6.32 billion, a PE ratio of 36.64, a P/E/G ratio of 1.33 and a beta of 1.29. The firm’s fifty day moving average is $146.96 and its 200 day moving average is $155.53.

Institutional Investors Weigh In On SPX Technologies

Several large investors have recently added to or reduced their stakes in SPXC. Raymond James & Associates grew its stake in shares of SPX Technologies by 30.4% in the third quarter. Raymond James & Associates now owns 57,098 shares of the company’s stock worth $9,105,000 after acquiring an additional 13,312 shares in the last quarter. Conestoga Capital Advisors LLC boosted its holdings in SPX Technologies by 74.6% in the third quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock valued at $100,023,000 after purchasing an additional 267,965 shares during the period. Farther Finance Advisors LLC grew its stake in SPX Technologies by 247.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company’s stock worth $80,000 after purchasing an additional 357 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in SPX Technologies by 30.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 97,982 shares of the company’s stock worth $15,624,000 after purchasing an additional 22,645 shares during the period. Finally, Emerald Advisers LLC raised its position in SPX Technologies by 40.6% in the 3rd quarter. Emerald Advisers LLC now owns 132,051 shares of the company’s stock valued at $21,057,000 after purchasing an additional 38,161 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.