SPX Technologies (NYSE:SPXC) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on SPX Technologies to $251 (from $244) and kept a "buy" rating, implying about an 11.8% upside
• SPX slightly beat expectations for the quarter with EPS $1.88 vs. $1.86 and revenue $637.3M (up 19.4% YoY), and the company set FY2026 guidance of 7.600–8.000 EPS.
• Institutional ownership is very high at 92.82%, with major investors like Vanguard, Invesco and Capital International materially increasing their stakes recently.

SPX Technologies (NYSE:SPXC - Get Free Report) had its price objective upped by stock analysts at Truist Financial from $244.00 to $251.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 11.83% from the company's previous close.

A number of other brokerages also recently issued reports on SPXC. TD Cowen reissued a "hold" rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Bank of America raised SPX Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Wall Street Zen downgraded SPX Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. BMO Capital Markets started coverage on SPX Technologies in a report on Friday, March 27th. They set an "outperform" rating and a $243.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on SPX Technologies from $270.00 to $225.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, SPX Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $245.56.

SPX Technologies Stock Up 0.4%

Shares of SPXC opened at $224.45 on Monday. The stock has a fifty day simple moving average of $215.43 and a two-hundred day simple moving average of $209.91. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $11.26 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 1.72 and a beta of 1.34. SPX Technologies has a 52-week low of $122.61 and a 52-week high of $246.68.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.02. The firm had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the company earned $1.51 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, equities analysts forecast that SPX Technologies will post 5.57 EPS for the current year.

Hedge Funds Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company's stock valued at $989,649,000 after buying an additional 232,436 shares during the period. Invesco Ltd. boosted its stake in shares of SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company's stock valued at $351,000,000 after buying an additional 722,039 shares during the period. Capital International Investors purchased a new position in shares of SPX Technologies in the 4th quarter valued at about $307,494,000. Geode Capital Management LLC boosted its stake in shares of SPX Technologies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company's stock valued at $242,874,000 after buying an additional 63,889 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of SPX Technologies by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company's stock valued at $235,368,000 after buying an additional 84,117 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

About SPX Technologies

SPX Technologies NYSE: SPXC is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company's Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.

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