Brokerages Set SPX Technologies, Inc. (NYSE:SPXC) Target Price at $195.20

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) has earned an average recommendation of "Buy" from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $195.20.

Several brokerages recently commented on SPXC. B. Riley began coverage on SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price on the stock. Wall Street Zen upgraded SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group increased their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Oppenheimer increased their price target on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th.

SPX Technologies Trading Up 0.7%

Shares of SPX Technologies stock traded up $1.24 on Wednesday, hitting $187.87. The stock had a trading volume of 243,021 shares, compared to its average volume of 321,213. The stock has a 50 day moving average of $183.28 and a 200 day moving average of $156.88. SPX Technologies has a twelve month low of $115.00 and a twelve month high of $209.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The firm has a market capitalization of $8.78 billion, a P/E ratio of 42.22, a PEG ratio of 1.56 and a beta of 1.32.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The company had revenue of $552.40 million during the quarter, compared to the consensus estimate of $546.03 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The firm's 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. Sell-side analysts expect that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SPXC. Invesco Ltd. increased its position in shares of SPX Technologies by 22.3% during the 2nd quarter. Invesco Ltd. now owns 1,157,177 shares of the company's stock valued at $194,035,000 after purchasing an additional 210,682 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of SPX Technologies by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company's stock worth $182,211,000 after acquiring an additional 17,735 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of SPX Technologies by 1.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock worth $102,920,000 after acquiring an additional 11,400 shares during the period. Janus Henderson Group PLC grew its stake in shares of SPX Technologies by 3.9% during the 4th quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after acquiring an additional 26,995 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of SPX Technologies by 1.7% during the 4th quarter. Nuveen Asset Management LLC now owns 705,843 shares of the company's stock worth $102,714,000 after acquiring an additional 11,771 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

About SPX Technologies

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.