SPX Technologies (NYSE:SPXC) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded SPX Technologies from “Hold” to “Buy.” The broader analyst consensus is “Moderate Buy,” with a consensus price target of $243.82.
• SPX Technologies exceeded quarterly expectations, reporting $2.21 in earnings per share versus the $2.12 estimate and revenue of $714.5 million, up 20.5% year over year.
• The stock opened at $159.65, well below its 12-month high of $251.08, while institutional investors own approximately 92.82% of outstanding shares.

SPX Technologies (NYSE:SPXC - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of SPX Technologies from $282.00 to $225.00 and set an "overweight" rating on the stock in a research note on Friday, October 9th. Vertical Research started coverage on shares of SPX Technologies in a research note on Monday, September 28th. They issued a "buy" rating and a $215.00 price target for the company. Robert W. Baird began coverage on shares of SPX Technologies in a report on Monday, October 5th. They set an "outperform" rating and a $220.00 price objective for the company. B. Riley Financial decreased their price objective on shares of SPX Technologies from $285.00 to $250.00 and set a "buy" rating for the company in a report on Monday, October 26th. Finally, Weiss Ratings downgraded shares of SPX Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $243.82.

SPX Technologies Stock Performance

NYSE:SPXC opened at $159.65 on Friday. The business's 50-day moving average price is $178.60 and its two-hundred day moving average price is $207.51. SPX Technologies has a twelve month low of $148.17 and a twelve month high of $251.08. The stock has a market cap of $8.00 billion, a P/E ratio of 21.44, a PEG ratio of 1.09 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.09. The business had revenue of $714.50 million for the quarter, compared to analysts' expectations of $710.38 million. SPX Technologies had a return on equity of 17.25% and a net margin of 11.48%. The firm's revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 earnings per share. As a group, equities analysts predict that SPX Technologies will post 8.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in SPX Technologies in the second quarter valued at $1,189,365,000. Jupiter Topco LLC purchased a new stake in shares of SPX Technologies during the 2nd quarter worth about $465,593,000. First Trust Advisors LP boosted its stake in shares of SPX Technologies by 181.4% during the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company's stock worth $272,492,000 after acquiring an additional 878,494 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of SPX Technologies by 5.9% during the 1st quarter. Janus Henderson Group PLC now owns 765,245 shares of the company's stock worth $153,011,000 after acquiring an additional 42,921 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of SPX Technologies by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 445,434 shares of the company's stock valued at $89,060,000 after acquiring an additional 17,524 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

Key Stories Impacting SPX Technologies

Here are the key news stories impacting SPX Technologies this week:

• Positive Sentiment: Raised 2026 outlook and data-center opportunity: Management increased its 2026 adjusted EBITDA growth forecast to approximately 25% and outlined roughly $1.1 billion of data-center-related capacity, reinforcing expectations for continued demand in cooling and HVAC infrastructure. SPX outlines data center capacity and raises EBITDA guidance
• Positive Sentiment: Third-quarter results exceeded estimates: SPX Technologies reported $714.5 million in revenue, up 20.5% year over year, and adjusted earnings of $2.21 per share versus the $2.12 consensus estimate. Revenue, operating profit and earnings all improved from the prior-year period. SPX Technologies third-quarter earnings report
• Positive Sentiment: Valuation argument remains supportive: One analysis estimates SPXC could be about 17% undervalued even after the guidance increase. The company’s growth profile is also supported by prior analyst targets substantially above its recent trading level. SPX Technologies stock may be undervalued
• Neutral Sentiment: Mixed institutional positioning: Recent filings show both additions and reductions by major investors, including purchases by Capital World Investors and sales by BlackRock, offering no clear institutional consensus. The company has comparatively moderate leverage, but quarterly capital spending and total liabilities remain important areas to monitor. SPX Technologies third-quarter financial results
• Negative Sentiment: Broader market risk is weighing on sentiment: Technical analysts warned that a break in S&P 500 support could trigger steeper selling. That market-wide caution may be pressuring SPXC even though its operating results and guidance were favorable. Market technical analysis and S&P 500 support warning

SPX Technologies Company Profile

SPX Technologies, Inc NYSE: SPXC is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.

SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.

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