Brokerages Set SPX Technologies, Inc. (NYSE:SPXC) PT at $164.00

Shares of SPX Technologies, Inc. (NYSE:SPXC) have received an average recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $164.00.

SPXC has been the subject of a number of research reports. Sidoti cut SPX Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Wolfe Research started coverage on SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price for the company.

Institutional Trading of SPX Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in SPX Technologies in the 3rd quarter worth approximately $28,000. Canada Pension Plan Investment Board purchased a new position in SPX Technologies in the second quarter valued at $28,000. ST Germain D J Co. Inc. acquired a new position in shares of SPX Technologies in the third quarter worth about $44,000. Farther Finance Advisors LLC boosted its stake in shares of 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 acquiring an additional 357 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of SPX Technologies by 65.2% during the 3rd quarter. Signaturefd LLC now owns 542 shares of the company’s stock valued at $86,000 after acquiring an additional 214 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $148.92 on Tuesday. SPX Technologies has a fifty-two week low of $95.00 and a fifty-two week high of $183.83. The company has a market cap of $6.90 billion, a PE ratio of 40.03, a P/E/G ratio of 1.55 and a beta of 1.30. 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 business has a 50-day simple moving average of $159.49 and a two-hundred day simple moving average of $155.32.

SPX Technologies (NYSE:SPXC) last released its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. SPX Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business earned $1.06 EPS. As a group, equities analysts expect that SPX Technologies will post 5.56 EPS for the current fiscal year.

About SPX Technologies

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.