SPX Technologies (NYSE:SPXC) Sets New 1-Year Low - Time to Sell?

Key Points

• SPX Technologies shares hit a new 52-week low, trading as low as $173.60 and remaining below both their 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a consensus “Buy” rating with an average price target of $264.89, substantially above the recent trading price.
• The company recently exceeded quarterly earnings and revenue estimates, with EPS of $2.02 and revenue of $679 million; institutional investors own approximately 92.82% of outstanding shares.

Shares of SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $173.60 and last traded at $178.92, with a volume of 82316 shares traded. The stock had previously closed at $181.19.

Analyst Upgrades and Downgrades

SPXC has been the subject of a number of research analyst reports. 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 shares of SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of SPX Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. Truist Financial reiterated a "buy" rating and set a $301.00 price target (up from $295.00) on shares of SPX Technologies in a research report on Monday, August 3rd. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $250.00 price objective on shares of SPX Technologies in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $264.89.

SPX Technologies Price Performance

The firm's 50 day moving average is $204.31 and its 200 day moving average is $211.88. The firm has a market cap of $8.78 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results 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 net margin of 11.27% and a return on equity of 16.53%. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. During the same period last year, the business earned $1.65 earnings per share. The business's 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, analysts anticipate that SPX Technologies, Inc. will post 8.5 earnings per share for the current year.

Hedge Funds Weigh In On SPX Technologies

A number of hedge funds have recently bought and sold shares of SPXC. Sequoia Financial Advisors LLC increased its stake in SPX Technologies by 36.2% during the 2nd 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 in the last quarter. Tidal Investments LLC lifted its stake in shares of SPX Technologies by 10.7% in the second quarter. Tidal Investments LLC now owns 52,384 shares of the company's stock worth $12,843,000 after buying an additional 5,061 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of SPX Technologies during the second quarter valued at approximately $87,000. Squarepoint Ops LLC purchased a new stake in shares of SPX Technologies during the second quarter valued at approximately $14,194,000. Finally, Waverly Advisors LLC increased its position in shares of SPX Technologies by 4.0% during the second quarter. Waverly Advisors LLC now owns 4,262 shares of the company's stock valued at $1,045,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 92.82% of the company's stock.

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.

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