SPX Technologies (NYSE:SPXC) Updates FY 2025 Earnings Guidance

Key Points

• SPX Technologies has issued FY 2025 earnings guidance of $6.350-$6.650 per share, exceeding the consensus estimate of $6.296, along with revenue guidance of $2.2 billion-$2.3 billion, aligning with expectations.
• Analysts have updated their ratings for SPX Technologies, with UBS raising its price target to $182.00 and Oppenheimer to $197.00, both reflecting growing confidence in the company.
• Insider activity saw Director Rick D. Puckett sell over 6,800 shares, decreasing his stake in SPX Technologies, while institutional ownership remains high at approximately 92.82%.

SPX Technologies (NYSE:SPXC - Get Free Report) issued an update on its FY 2025 earnings guidance on Thursday morning. The company provided earnings per share guidance of 6.350-6.650 for the period, compared to the consensus earnings per share estimate of 6.296. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.2 billion.

SPX Technologies Price Performance

Shares of NYSE SPXC traded up $14.04 during mid-day trading on Friday, reaching $196.43. The company had a trading volume of 739,717 shares, compared to its average volume of 249,962. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.88. SPX Technologies has a one year low of $115.00 and a one year high of $198.75. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 44.14, a PEG ratio of 1.60 and a beta of 1.27. The business's 50-day simple moving average is $166.62 and its 200 day simple moving average is $149.95.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.20. The firm had revenue of $552.40 million for the quarter, compared to analysts' expectations of $546.03 million. SPX Technologies had a return on equity of 20.07% and a net margin of 10.27%. The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.42 earnings per share. On average, research analysts predict that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Oppenheimer lifted their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. UBS Group lifted their price objective on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday. Finally, B. Riley assumed coverage on SPX Technologies in a research note on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $195.20.

Insider Activity at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the completion of the sale, the director owned 33,770 shares in the company, valued at $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPX Technologies

Several institutional investors have recently bought and sold shares of SPXC. Millennium Management LLC grew its holdings in SPX Technologies by 214.4% during the first quarter. Millennium Management LLC now owns 83,285 shares of the company's stock worth $10,725,000 after buying an additional 56,799 shares in the last quarter. AQR Capital Management LLC grew its stake in SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company's stock valued at $2,670,000 after purchasing an additional 8,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in SPX Technologies by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company's stock valued at $24,742,000 after purchasing an additional 3,353 shares during the period. Royal Bank of Canada grew its stake in SPX Technologies by 8.1% in the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company's stock valued at $4,942,000 after purchasing an additional 2,892 shares during the period. Finally, NewEdge Advisors LLC grew its stake in SPX Technologies by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock valued at $80,000 after purchasing an additional 112 shares during the period. Institutional investors own 92.82% of the company's stock.

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.