SPX Technologies (NYSE:SPXC) Hits New 52-Week Low - Here's What Happened

Key Points

• SPX Technologies hit a new 52-week low, trading as low as $169.71 versus its prior close of $172.79; its price is also below the 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a consensus “Buy” rating with an average price target of $264.89, implying substantial upside from current levels.
• The company reported stronger-than-expected quarterly results, with EPS of $2.02 versus estimates of $1.85 and revenue of $679 million, up 22.9% year over year; institutional investors own 92.82% of outstanding shares.

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) hit a new 52-week low on Monday. The stock traded as low as $169.71 and last traded at $170.02, with a volume of 132782 shares changing hands. The stock had previously closed at $172.79.

Analyst Ratings Changes

A number of analysts have commented on SPXC shares. Weiss Ratings cut shares of SPX Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, September 21st. Zacks Research raised SPX Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. B. Riley Financial increased their target price 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, Wells Fargo & Company restated an "overweight" rating and set a $250.00 target price on shares of SPX Technologies in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, SPX Technologies presently has a consensus rating of "Buy" and an average target price of $264.89.

SPX Technologies Stock Performance

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 company has a market cap of $8.52 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.27. The stock has a 50-day moving average price of $200.92 and a 200 day moving average price of $210.79.

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 (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. During the same period in the previous year, the firm earned $1.65 EPS. SPX Technologies's quarterly revenue was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, analysts anticipate that SPX Technologies, Inc. will post 8.5 EPS for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPXC. BlackRock Inc. acquired a new position in shares of SPX Technologies during the second quarter worth about $1,189,365,000. Jupiter Topco LLC bought a new stake in SPX Technologies in the 2nd quarter valued at approximately $465,593,000. Capital International Investors acquired a new position in SPX Technologies during the 4th quarter worth approximately $307,494,000. First Trust Advisors LP boosted 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 acquiring an additional 878,494 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of SPX Technologies by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company's stock worth $242,874,000 after acquiring an additional 63,889 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

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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