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

Key Points

• SPX Technologies, Inc. has received a consensus rating of "Moderate Buy" from analysts, with the average 12-month target price set at $199.00.
• The company reported earnings of $1.65 per share for the last quarter, exceeding expectations, and has set guidance of 6.350-6.650 EPS for FY 2025.
• Institutional investors hold a significant portion of SPX Technologies' stock, with 92.82% of shares owned by these entities.

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $199.00.

SPXC has been the subject of a number of recent analyst reports. Bank of America initiated coverage on SPX Technologies in a report on Wednesday, October 8th. They set a "neutral" rating and a $202.00 price target for the company. Wall Street Zen cut SPX Technologies from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Oppenheimer raised their price target on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company initiated coverage on SPX Technologies in a report on Tuesday, October 14th. They set an "overweight" rating and a $205.00 price target for the company. Finally, Truist Financial initiated coverage on SPX Technologies in a report on Monday. They set a "hold" rating and a $209.00 price target for the company.

SPX Technologies Trading Down 2.2%

Shares of SPXC opened at $187.59 on Thursday. SPX Technologies has a 1 year low of $115.00 and a 1 year high of $209.38. The company has a current ratio of 1.97, a quick ratio of 1.28 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $187.01 and a 200-day simple moving average of $168.51. The stock has a market cap of $8.77 billion, a PE ratio of 42.15, a PEG ratio of 1.96 and a beta of 1.37.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The business had revenue of $552.40 million during the quarter, compared to analysts' expectations of $546.03 million. During the same period in the prior year, the firm posted $1.42 EPS. SPX Technologies's quarterly revenue was up 10.2% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts predict that SPX Technologies will post 5.57 EPS for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new stake in SPX Technologies during the 1st quarter valued at $890,000. Dynamic Technology Lab Private Ltd increased its stake in shares of SPX Technologies by 794.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,126 shares of the company's stock valued at $1,819,000 after buying an additional 12,546 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of SPX Technologies in the 2nd quarter valued at $1,878,000. GAMMA Investing LLC increased its stake in shares of SPX Technologies by 5.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,140 shares of the company's stock valued at $191,000 after buying an additional 64 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of SPX Technologies by 80.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,951 shares of the company's stock valued at $251,000 after buying an additional 868 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.

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.

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