SPX Technologies (NYSE:SPXC) Given New $142.00 Price Target at UBS Group

SPX Technologies (NYSE:SPXC - Get Free Report) had its price objective hoisted by stock analysts at UBS Group from $126.00 to $142.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's target price suggests a potential upside of 6.03% from the stock's previous close.

A number of other equities research analysts have also recently commented on SPXC. StockNews.com raised shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 3rd. Oppenheimer boosted their target price on SPX Technologies from $134.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, May 3rd. Finally, William Blair reiterated an "outperform" rating on shares of SPX Technologies in a research note on Friday, May 3rd. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $141.00.

SPX Technologies Stock Performance

SPXC stock traded down $2.24 during midday trading on Wednesday, hitting $133.92. The company's stock had a trading volume of 352,882 shares, compared to its average volume of 242,380. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 65.33, a PEG ratio of 1.35 and a beta of 1.24. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. The stock's 50-day moving average price is $120.28 and its 200 day moving average price is $104.29. SPX Technologies has a 1 year low of $71.33 and a 1 year high of $136.49.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.19. The company had revenue of $465.20 million during the quarter, compared to analyst estimates of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, equities analysts forecast that SPX Technologies will post 5.38 EPS for the current year.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the completion of the transaction, the chief executive officer now owns 597,936 shares of the company's stock, valued at approximately $69,049,649.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John William Swann III sold 32,325 shares of the company's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the transaction, the insider now owns 82,884 shares of the company's stock, valued at $9,747,987.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction on Friday, March 1st. The shares were sold at an average price of $115.48, for a total value of $3,123,503.04. Following the sale, the chief executive officer now directly owns 597,936 shares of the company's stock, valued at approximately $69,049,649.28. The disclosure for this sale can be found here. Insiders have sold 94,373 shares of company stock valued at $10,962,146 in the last 90 days. 3.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors have recently added to or reduced their stakes in SPXC. Vanguard Group Inc. grew its holdings in shares of SPX Technologies by 1.0% during the third quarter. Vanguard Group Inc. now owns 5,014,424 shares of the company's stock worth $408,174,000 after purchasing an additional 50,178 shares in the last quarter. Ameriprise Financial Inc. grew its stake in SPX Technologies by 11.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company's stock worth $128,583,000 after buying an additional 165,544 shares in the last quarter. FMR LLC increased its holdings in shares of SPX Technologies by 23.0% in the 3rd quarter. FMR LLC now owns 1,338,942 shares of the company's stock worth $108,990,000 after buying an additional 250,494 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of SPX Technologies by 15.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 809,824 shares of the company's stock valued at $81,800,000 after buying an additional 106,798 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of SPX Technologies by 0.3% during the 3rd quarter. Northern Trust Corp now owns 510,197 shares of the company's stock worth $41,530,000 after acquiring an additional 1,466 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

About SPX Technologies

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.