Brokerages Set SPX Technologies, Inc. (NYSE:SPXC) PT at $168.50

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned an average rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $168.50.

Several analysts have issued reports on SPXC shares. Sidoti lowered shares of SPX Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. UBS Group decreased their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price on the stock.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in SPX Technologies by 4.7% in the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after buying an additional 78 shares in the last quarter. Hilltop National Bank boosted its position in SPX Technologies by 19.9% in the fourth quarter. Hilltop National Bank now owns 536 shares of the company’s stock valued at $78,000 after buying an additional 89 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in SPX Technologies by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock valued at $1,632,000 after buying an additional 158 shares in the last quarter. M&T Bank Corp boosted its position in SPX Technologies by 0.4% in the third quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock valued at $5,986,000 after buying an additional 160 shares in the last quarter. Finally, KBC Group NV boosted its position in SPX Technologies by 14.3% in the third quarter. KBC Group NV now owns 1,295 shares of the company’s stock valued at $207,000 after buying an additional 162 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

NYSE SPXC opened at $144.99 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 1.39 and a beta of 1.30. The company’s fifty day moving average is $155.10 and its two-hundred day moving average is $155.62. SPX Technologies has a 52-week low of $100.59 and a 52-week high of $183.83.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results 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 company had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. Equities research analysts forecast that SPX Technologies will post 5.57 EPS for the current year.

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.