SPX Technologies, Inc. (NYSE:SPXC) Short Interest Up 26.1% in November

SPX Technologies, Inc. (NYSE:SPXC) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 725,300 shares, an increase of 26.1% from the October 31st total of 575,300 shares. Based on an average daily volume of 238,500 shares, the short-interest ratio is presently 3.0 days. Currently, 1.6% of the company’s shares are sold short.

SPX Technologies Trading Up 0.0 %

NYSE SPXC traded up $0.01 during trading on Monday, hitting $176.45. The stock had a trading volume of 237,229 shares, compared to its average volume of 249,008. 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 stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 47.43, a P/E/G ratio of 1.76 and a beta of 1.22. SPX Technologies has a one year low of $86.42 and a one year high of $183.83. The stock has a 50 day simple moving average of $164.07 and a 200 day simple moving average of $152.82.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. Sell-side analysts predict that SPX Technologies will post 5.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in SPX Technologies by 188.4% in the third quarter. Franklin Resources Inc. now owns 12,531 shares of the company’s stock worth $2,127,000 after purchasing an additional 8,186 shares in the last quarter. Synovus Financial Corp grew its stake in SPX Technologies by 2.1% in the third quarter. Synovus Financial Corp now owns 9,489 shares of the company’s stock worth $1,513,000 after purchasing an additional 199 shares in the last quarter. Tidal Investments LLC boosted its position in SPX Technologies by 6.6% during the 3rd quarter. Tidal Investments LLC now owns 3,026 shares of the company’s stock valued at $483,000 after acquiring an additional 188 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in SPX Technologies during the 3rd quarter valued at $194,000. Finally, M&T Bank Corp boosted its position in SPX Technologies by 0.4% during the 3rd quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock valued at $5,986,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

Separately, Wolfe Research assumed coverage on shares of SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, SPX Technologies has an average rating of “Hold” and a consensus target price of $160.33.

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.