SPX Technologies, Inc. (NYSE:SPXC) Receives $168.50 Average PT from Analysts

SPX Technologies, Inc. (NYSE:SPXC) has been given a consensus rating of “Hold” by the five brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $168.50.

Several research analysts have recently commented on the company. Wolfe Research assumed coverage on SPX Technologies in a report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective on the stock. Sidoti cut shares of SPX Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Finally, UBS Group lowered their price objective 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.

SPX Technologies Trading Down 4.4 %

Shares of SPXC stock opened at $140.18 on Wednesday. SPX Technologies has a 52-week low of $103.11 and a 52-week high of $183.83. The business’s fifty day moving average is $147.75 and its 200 day moving average is $155.72. 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 company has a market capitalization of $6.50 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

Institutional Trading of SPX Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPXC. Palisades Investment Partners LLC grew its position in SPX Technologies by 9.9% in the fourth quarter. Palisades Investment Partners LLC now owns 112,097 shares of the company’s stock worth $16,312,000 after acquiring an additional 10,109 shares in the last quarter. Twinbeech Capital LP bought a new position in SPX Technologies during the fourth quarter valued at $1,931,000. Two Sigma Investments LP raised its stake in shares of SPX Technologies by 90.8% in the fourth quarter. Two Sigma Investments LP now owns 13,607 shares of the company’s stock valued at $1,980,000 after acquiring an additional 6,475 shares during the period. Tidal Investments LLC lifted its holdings in shares of SPX Technologies by 10.2% in the 4th quarter. Tidal Investments LLC now owns 3,336 shares of the company’s stock worth $485,000 after acquiring an additional 310 shares during the last quarter. Finally, Tema Etfs LLC purchased a new position in shares of SPX Technologies during the 4th quarter worth about $5,933,000. Institutional investors own 92.82% of the company’s stock.

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.