SPX Technologies (NYSE:SPXC) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• SPX Technologies has received a "hold (C+)" rating reaffirmed by Weiss Ratings, signifying a cautious outlook on the stock's performance.
• Analyst ratings on SPX Technologies vary, with a mix of one Strong Buy, four Buy, two Hold, and a neutral rating from Bank of America with a price target of $202.00.
• The company's most recent earnings report showed an EPS of $1.65, beating analyst expectations, with revenue also surpassing estimates at $552.40 million.

SPX Technologies (NYSE:SPXC - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also commented on SPXC. Bank of America initiated coverage on SPX Technologies in a research report on Wednesday. They issued a "neutral" rating and a $202.00 price objective on the stock. Wall Street Zen lowered SPX Technologies from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Oppenheimer raised their price target on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, UBS Group raised their price target on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $196.33.

SPX Technologies Price Performance

NYSE SPXC traded up $0.28 during trading hours on Wednesday, reaching $188.60. 164,910 shares of the company's stock were exchanged, compared to its average volume of 283,146. The stock has a market cap of $8.82 billion, a PE ratio of 42.38, a price-to-earnings-growth ratio of 1.60 and a beta of 1.37. 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 firm has a fifty day moving average of $189.43 and a 200-day moving average of $164.87. SPX Technologies has a one year low of $115.00 and a one year high of $209.38.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.65 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 analyst estimates of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts predict that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Institutional Trading of SPX Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. raised its stake in SPX Technologies by 22.3% during the 2nd quarter. Invesco Ltd. now owns 1,157,177 shares of the company's stock worth $194,035,000 after buying an additional 210,682 shares during the period. Geode Capital Management LLC raised its stake in shares of SPX Technologies by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company's stock valued at $182,211,000 after purchasing an additional 17,735 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of SPX Technologies by 1.4% in the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock valued at $102,920,000 after purchasing an additional 11,400 shares in the last quarter. Nuveen LLC bought a new stake in shares of SPX Technologies in the first quarter valued at about $88,852,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SPX Technologies by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company's stock valued at $109,127,000 after purchasing an additional 14,941 shares in the last quarter. Institutional investors and hedge funds 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.

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