SPX Technologies (NYSE:SPXC) Hits New 12-Month Low - What's Next?

Key Points

• SPX Technologies shares fell to a new 52-week low of $165.15, trading below both their 50-day ($190.10) and 200-day ($208.00) moving averages.
• Analysts have lowered several price targets, but overall sentiment remains positive: SPX has a “Moderate Buy” consensus rating and an average target of $247.45.
• The company recently exceeded quarterly expectations, reporting $2.02 in EPS versus $1.85 expected and $679 million in revenue, up 22.9% year over year; institutional investors own 92.82% of its shares.

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) shares hit a new 52-week low during trading on Thursday. The stock traded as low as $165.15 and last traded at $165.0470, with a volume of 776 shares. The stock had previously closed at $168.23.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of SPX Technologies from $250.00 to $243.00 and set an "overweight" rating for the company in a research report on Tuesday. Truist Financial reduced their target price on shares of SPX Technologies from $301.00 to $266.00 and set a "buy" rating for the company in a report on Monday, October 5th. JPMorgan Chase & Co. dropped their price target on shares of SPX Technologies from $282.00 to $225.00 and set an "overweight" rating for the company in a research report on Friday, October 9th. Zacks Research cut SPX Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Finally, Oppenheimer cut their target price on SPX Technologies from $280.00 to $270.00 and set an "outperform" rating for the company in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $247.45.

SPX Technologies Stock Down 3.2%

The company's 50-day simple moving average is $190.10 and its 200 day simple moving average is $208.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The firm has a market cap of $8.16 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

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

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SPXC. BlackRock Inc. purchased a new position in shares of SPX Technologies during the second quarter worth about $1,189,365,000. Jupiter Topco LLC acquired a new stake in SPX Technologies during the 2nd quarter worth $465,593,000. First Trust Advisors LP grew its position in 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 purchasing an additional 878,494 shares during the last quarter. Port Capital LLC acquired a new stake in shares of SPX Technologies during the second quarter worth about $109,159,000. Finally, Bank of America Corp DE purchased a new stake in SPX Technologies during the 2nd quarter valued at approximately $86,545,000. 92.82% of the stock is owned by institutional investors.

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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