SPX Technologies, Inc. (NYSE:SPXC) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Analysts broadly favor SPX Technologies: Eleven brokerages give the stock a consensus “Buy” rating, with an average 12-month price target of approximately $266.67.
• Institutional ownership is significant: Hedge funds and other institutions own 92.82% of SPX Technologies, with major investors including California State Teachers Retirement System and BlackRock expanding or initiating positions.
• Recent results exceeded expectations: SPX Technologies reported quarterly EPS of $2.02 versus the $1.85 consensus estimate, while revenue rose 22.9% year over year to $679 million. Fiscal 2026 guidance is $8.20–$8.60 in EPS.

Shares of SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) have been given a consensus recommendation of "Buy" by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $266.6667.

A number of analysts have commented on SPXC shares. Zacks Research raised shares of SPX Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Wolfe Research reissued an "outperform" rating and set a $266.00 price objective on shares of SPX Technologies in a research report on Thursday, July 9th. Truist Financial restated a "buy" rating and issued a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a research note on Monday, August 3rd. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 target price on shares of SPX Technologies in a report on Monday, August 3rd. Finally, B. Riley Financial lifted their target price on SPX Technologies from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, July 31st.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its position in shares of SPX Technologies by 23,765.8% during the 2nd quarter. California State Teachers Retirement System now owns 13,899,178 shares of the company's stock valued at $3,407,661,000 after purchasing an additional 13,840,939 shares during the period. BlackRock Inc. purchased a new stake in SPX Technologies in the 2nd quarter worth $1,189,365,000. Jupiter Topco LLC bought a new stake in SPX Technologies during the second quarter valued at about $465,593,000. Capital International Investors purchased a new position in shares of SPX Technologies in the fourth quarter valued at about $307,494,000. Finally, First Trust Advisors LP lifted its position in shares of SPX Technologies by 181.4% in the first quarter. First Trust Advisors LP now owns 1,362,871 shares of the company's stock valued at $272,492,000 after acquiring an additional 878,494 shares in the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Stock Performance

SPXC stock opened at $191.58 on Friday. The stock's 50 day simple moving average is $208.98 and its 200 day simple moving average is $214.09. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. SPX Technologies has a 12-month low of $179.62 and a 12-month high of $251.08. The stock has a market capitalization of $9.60 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The firm had revenue of $679.00 million during the quarter, compared to analysts' expectations of $640.18 million. During the same period in the previous year, the company earned $1.65 earnings per share. The firm's quarterly revenue was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, research analysts forecast that SPX Technologies will post 8.47 earnings per share for the current fiscal year.

SPX Technologies Company Profile

SPX Technologies, Inc is a Charlotte, North Carolina-based industrial technology company that provides equipment and services used in heating, ventilation, air conditioning, cooling, and infrastructure applications. The company serves customers in commercial, industrial, utility, and residential markets through operations in North America and internationally.

SPX Technologies operates through two principal segments: HVAC and Detection & Measurement. Its HVAC businesses develop and manufacture cooling towers, evaporative cooling systems, air-conditioning and heating equipment, boilers, and related products.

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