SPX Technologies (NYSE:SPXC) Reaches New 52-Week Low - Time to Sell?

Key Points

• SPX Technologies fell to a new 52-week low of $178.35, trading about 3% lower and below its 50-day and 200-day moving averages.
• Despite the selloff, analysts remain broadly bullish, with an average “Buy” rating and a consensus price target of $264.89—substantially above the current share price.
• The company recently beat quarterly estimates, reporting $2.02 in EPS versus $1.85 expected and 22.9% year-over-year revenue growth; institutional investors own 92.82% of its shares.

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $178.35 and last traded at $178.43, with a volume of 79820 shares changing hands. The stock had previously closed at $183.19.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPXC. Oppenheimer reiterated an "outperform" rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. Weiss Ratings raised SPX Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. Wolfe Research reaffirmed an "outperform" rating and set a $250.00 price target on shares of SPX Technologies in a research note on Tuesday. Zacks Research upgraded shares of SPX Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Finally, B. Riley Financial boosted their price objective on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, SPX Technologies presently has an average rating of "Buy" and an average price target of $264.89.

SPX Technologies Stock Down 3.0%

The firm has a 50-day moving average of $208.00 and a 200 day moving average of $213.50. 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 stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 1.25 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results 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. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same quarter in the previous year, the firm earned $1.65 EPS. The business'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, sell-side analysts forecast that SPX Technologies, Inc. will post 8.47 earnings per share for the current fiscal year.

Institutional Trading of SPX Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of SPX Technologies in the second quarter worth $1,189,365,000. Jupiter Topco LLC bought a new stake in SPX Technologies during the second quarter worth about $465,593,000. Capital International Investors acquired a new stake in SPX Technologies during the fourth quarter worth about $307,494,000. First Trust Advisors LP increased its holdings in SPX Technologies by 181.4% in the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company's stock valued at $272,492,000 after buying an additional 878,494 shares during the period. Finally, Geode Capital Management LLC increased its holdings in SPX Technologies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company's stock valued at $242,874,000 after buying an additional 63,889 shares during the period. 92.82% of the stock is owned by institutional investors.

About SPX Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.