SPX Technologies, Inc. (NYSE:SPXC) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on SPX Technologies, with 10 buy ratings, one strong-buy rating and two hold ratings. The average 12-month price target is $252.18.
• SPX Technologies reported quarterly EPS of $2.02, exceeding the $1.85 consensus estimate, while revenue reached $679 million and increased 22.9% year over year.
• Institutional investors own 92.82% of the company, although the stock opened at $170.95—near its 52-week low of $166.17 and well below its $251.08 high.

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $252.18.

SPXC has been the subject of several recent analyst reports. 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. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Wolfe Research assumed coverage on SPX Technologies in a research report on Tuesday, September 15th. They issued an "outperform" rating and a $250.00 price objective on the stock. B. Riley Financial upped their price objective on SPX Technologies from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Truist Financial decreased their target price on SPX Technologies from $301.00 to $266.00 and set a "buy" rating for the company in a research report on Monday.

Institutional Trading of SPX Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Cim Investment Management Inc. increased its stake in shares of SPX Technologies by 21.5% during the 2nd quarter. Cim Investment Management Inc. now owns 1,551 shares of the company's stock worth $380,000 after purchasing an additional 274 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of SPX Technologies in the 2nd quarter worth approximately $293,000. Sequoia Financial Advisors LLC lifted its stake in SPX Technologies by 36.2% in the second quarter. Sequoia Financial Advisors LLC now owns 4,466 shares of the company's stock valued at $1,095,000 after purchasing an additional 1,186 shares during the last quarter. Tidal Investments LLC lifted its stake in SPX Technologies by 10.7% in the second quarter. Tidal Investments LLC now owns 52,384 shares of the company's stock valued at $12,843,000 after purchasing an additional 5,061 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in SPX Technologies during the second quarter valued at $87,000. Institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $170.95 on Thursday. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.15 and a beta of 1.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. SPX Technologies has a fifty-two week low of $166.17 and a fifty-two week high of $251.08. The firm's 50-day simple moving average is $194.44 and its 200 day simple moving average is $208.97.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.17. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The company's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, research analysts anticipate that SPX Technologies will post 8.48 earnings per share for the current fiscal year.

SPX Technologies Company Profile

SPX Technologies, Inc is a diversified industrial technology company headquartered in Charlotte, North Carolina. The company designs, manufactures and services highly engineered products and solutions used by customers in the heating, ventilation and air-conditioning (HVAC), infrastructure and industrial markets.

SPX's HVAC businesses provide cooling towers, evaporative and air-cooled cooling systems, boilers, heat-transfer equipment, air-handling products and related services. Its brands include Marley, Recold, Weil-McLain, Patterson-Kelley, Berko and QMark.

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