SPX Technologies, Inc. (NYSE:SPXC) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• SPX Technologies has a consensus “Buy” rating from 11 analysts: nine buys, one hold and one strong buy. The average 12-month price target is approximately $266.67.
• The company exceeded quarterly expectations, reporting $2.02 in EPS versus the $1.85 consensus estimate and $679 million in revenue, up 22.9% year over year.
• Institutional investors own 92.82% of SPX Technologies, with major funds including BlackRock, Jupiter Topco and Capital International Investors recently adding positions.

Shares of SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) have been given a consensus rating of "Buy" by the eleven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $266.6667.

A number of brokerages have issued reports on SPXC. Zacks Research raised shares of SPX Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 price target on shares of SPX Technologies in a research report on Monday, August 3rd. Oppenheimer reiterated an "outperform" rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Truist Financial reissued a "buy" rating and set a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. Finally, B. Riley Financial raised their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, July 31st.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $213.02 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $10.67 billion, a PE ratio of 38.31, a P/E/G ratio of 1.42 and a beta of 1.27. SPX Technologies has a twelve month low of $179.62 and a twelve month high of $251.08. The company has a 50-day moving average price of $222.64 and a two-hundred day moving average price of $217.70.

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 (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.17. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter 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. Equities analysts forecast that SPX Technologies will post 8.47 EPS for the current year.

Hedge Funds Weigh In On SPX Technologies

Several hedge funds have recently bought and sold shares of SPXC. BlackRock Inc. purchased a new stake in shares of SPX Technologies in the second quarter worth $1,189,365,000. Jupiter Topco LLC purchased a new position in SPX Technologies during the second quarter worth about $465,593,000. Capital International Investors purchased a new position in SPX Technologies during the fourth quarter worth about $307,494,000. First Trust Advisors LP increased its stake 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 worth $272,492,000 after acquiring an additional 878,494 shares during the last quarter. Finally, Invesco Ltd. increased its stake in SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company's stock worth $351,000,000 after acquiring an additional 722,039 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

About SPX Technologies

SPX Technologies NYSE: SPXC is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company's Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.

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