SPX Technologies, Inc. (NYSE:SPXC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $174.75.

SPXC has been the subject of a number of analyst reports. Oppenheimer raised SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note on Wednesday, February 26th. UBS Group cut their price objective on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th.

Hedge Funds Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of SPXC. Vanguard Group Inc. raised its stake in shares of SPX Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock worth $732,153,000 after buying an additional 89,770 shares during the last quarter. State Street Corp increased its holdings in SPX Technologies by 1.3% during the 3rd quarter. State Street Corp now owns 1,729,989 shares of the company's stock valued at $275,864,000 after acquiring an additional 22,177 shares in the last quarter. Invesco Ltd. raised its position in SPX Technologies by 3.4% during the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after acquiring an additional 37,468 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of SPX Technologies by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company's stock valued at $164,888,000 after purchasing an additional 8,916 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in shares of SPX Technologies by 25.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after purchasing an additional 160,535 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Stock Performance

Shares of SPX Technologies stock traded up $0.28 on Thursday, reaching $131.23. 175,426 shares of the stock were exchanged, compared to its average volume of 278,009. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $6.14 billion, a PE ratio of 35.28, a PEG ratio of 1.33 and a beta of 1.22. SPX Technologies has a 1-year low of $115.00 and a 1-year high of $183.83. The business has a fifty day moving average price of $137.51 and a two-hundred day moving average price of $150.40.

SPX Technologies Company Profile

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.