SPX Technologies, Inc. (NYSE:SPXC) Short Interest Down 15.4% in April

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 642,400 shares, a drop of 15.4% from the March 31st total of 759,600 shares. Based on an average daily volume of 325,900 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.4% of the company's shares are short sold.

SPX Technologies Stock Up 1.9 %

NYSE SPXC traded up $2.73 on Monday, reaching $147.46. The company had a trading volume of 331,721 shares, compared to its average volume of 278,606. The company's fifty day moving average is $133.42 and its 200-day moving average is $147.22. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 39.64, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies has a 1-year low of $115.00 and a 1-year high of $183.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.16 by $0.22. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same quarter in the prior year, the firm posted $1.25 EPS. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts forecast that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP increased its position in SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company's stock valued at $25,000 after acquiring an additional 90 shares during the period. Empowered Funds LLC bought a new position in SPX Technologies during the 4th quarter worth $27,000. NBC Securities Inc. bought a new position in SPX Technologies during the 1st quarter worth $27,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock valued at $28,000 after buying an additional 185 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of SPX Technologies by 377.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Institutional investors own 92.82% of the company's stock.

Wall Street Analysts Forecast Growth

SPXC has been the subject of several research reports. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Wednesday, February 26th. UBS Group decreased their target price on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, SPX Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $174.75.

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.