BMO Capital Markets Initiates Coverage on SPX Technologies (NYSE:SPXC)

Key Points

• BMO Capital Markets initiated coverage on SPX Technologies with an "outperform" rating and a $243 price target, implying roughly a 20.95% upside from the prior close.
• The stock enjoys broad analyst support—nine Buy ratings and one Hold—with an average price target of $249.67 and several firms (Wells Fargo, JPMorgan) setting targets up to $270.
• SPX posted a quarterly EPS beat ($1.88 vs. $1.86) and revenue grew 19.4% to $637.3M, provided FY2026 guidance of 7.60–8.00 EPS, but currently trades at a high PE of 40.1 and has about 92.8% institutional ownership.

Equities researchers at BMO Capital Markets assumed coverage on shares of SPX Technologies (NYSE:SPXC - Get Free Report) in a report released on Friday, Marketbeat.com reports. The firm set an "outperform" rating and a $243.00 price target on the stock. BMO Capital Markets' price target would indicate a potential upside of 20.95% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Truist Financial raised their price objective on shares of SPX Technologies from $216.00 to $244.00 and gave the company a "hold" rating in a research report on Thursday, February 26th. B. Riley Financial reissued a "buy" rating and set a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. TD Cowen reissued a "hold" rating on shares of SPX Technologies in a report on Tuesday, January 6th. Wells Fargo & Company lifted their price target on SPX Technologies from $220.00 to $270.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. began coverage on SPX Technologies in a report on Wednesday, March 4th. They set an "overweight" rating and a $260.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $249.67.

SPX Technologies Trading Down 0.2%

Shares of NYSE:SPXC opened at $200.90 on Friday. SPX Technologies has a 52 week low of $115.00 and a 52 week high of $246.68. The company's 50 day moving average is $217.74 and its two-hundred day moving average is $207.20. The company has a market cap of $10.02 billion, a PE ratio of 40.10, a P/E/G ratio of 1.54 and a beta of 1.30. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The business had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. During the same quarter in the previous year, the firm earned $1.51 EPS. The company's revenue was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Equities analysts predict that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Trading of SPX Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors purchased a new stake in SPX Technologies in the fourth quarter valued at approximately $307,494,000. Invesco Ltd. increased its holdings in shares of SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company's stock worth $351,000,000 after buying an additional 722,039 shares during the last quarter. Norges Bank purchased a new position in shares of SPX Technologies in the 4th quarter worth $123,721,000. Vanguard Group Inc. raised its position in shares of SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company's stock worth $989,649,000 after buying an additional 232,436 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new position in SPX Technologies in the third quarter valued at $41,092,000. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Company Profile

SPX Technologies NYSE: SPXC is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company's Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.

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