SPX Technologies (NYSE:SPXC - Free Report) had its price objective upped by Oppenheimer from $170.00 to $197.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.
SPXC has been the subject of a number of other reports. UBS Group upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $160.00 to $182.00 in a research report on Monday, June 2nd. B. Riley started coverage on shares of SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $189.60.
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SPX Technologies Stock Performance
Shares of NYSE:SPXC traded up $0.73 on Tuesday, hitting $170.70. 290,099 shares of the company were exchanged, compared to its average volume of 275,636. SPX Technologies has a 1-year low of $115.00 and a 1-year high of $183.83. The stock's 50 day moving average price is $155.90 and its 200 day moving average price is $145.71. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $7.97 billion, a P/E ratio of 39.79, a price-to-earnings-growth ratio of 1.49 and a beta of 1.24.
SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.16 by $0.22. The business had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. SPX Technologies had a net margin of 10.13% and a return on equity of 19.67%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. Sell-side analysts predict that SPX Technologies will post 5.57 EPS for the current year.
Insider Activity at SPX Technologies
In other news, Director Rick D. Puckett sold 6,823 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were 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 of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is owned by corporate insiders.
Institutional Trading of SPX Technologies
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of SPX Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock worth $732,153,000 after purchasing an additional 89,770 shares in the last quarter. Invesco Ltd. increased its stake in shares of SPX Technologies by 3.4% during the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after purchasing an additional 37,468 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of SPX Technologies by 1.4% during the first quarter. Conestoga Capital Advisors LLC now owns 799,195 shares of the company's stock worth $102,920,000 after purchasing an additional 11,400 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of SPX Technologies by 3.9% during the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock worth $105,321,000 after purchasing an additional 26,995 shares in the last quarter. Finally, FMR LLC grew its stake in SPX Technologies by 8.5% during the 4th quarter. FMR LLC now owns 718,298 shares of the company's stock valued at $104,527,000 after acquiring an additional 56,175 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.
About SPX Technologies
(
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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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