Wells Fargo & Company Lowers SPX Technologies (NYSE:SPXC) Price Target to $225.00

Key Points

• Wells Fargo & Company cut its price target for SPX Technologies from $270 to $225 but kept an "overweight" rating, implying about a 9.8% upside from the stock's mid‑day price.
• Analyst consensus remains bullish—nine Buys and one Hold—with an average price target of $244.67, which is above both Wells Fargo's target and the current share price.
• SPX reported a slight quarterly EPS beat ($1.88 vs. $1.86) and revenue of $637.3M (up 19.4% YoY), set FY2026 guidance of 7.600–8.000 EPS, and traded around $204.84 with roughly 92.8% institutional ownership.

SPX Technologies (NYSE:SPXC - Get Free Report) had its price objective reduced by stock analysts at Wells Fargo & Company from $270.00 to $225.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 9.84% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of SPX Technologies in a research note on Monday, December 29th. JPMorgan Chase & Co. started coverage on shares of SPX Technologies in a report on Wednesday, March 4th. They issued an "overweight" rating and a $260.00 target price for the company. Bank of America upgraded SPX Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Oppenheimer lifted their price objective on SPX Technologies from $240.00 to $272.00 and gave the company an "outperform" rating in a research note on Wednesday, February 25th. Finally, B. Riley Financial reiterated a "buy" rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, SPX Technologies currently has an average rating of "Moderate Buy" and an average price target of $244.67.

SPX Technologies Trading Up 2.4%

Shares of NYSE SPXC traded up $4.90 during mid-day trading on Wednesday, reaching $204.84. 226,732 shares of the company's stock were exchanged, compared to its average volume of 430,568. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 40.89, a PEG ratio of 1.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48. SPX Technologies has a 52-week low of $115.00 and a 52-week high of $246.68. The company's 50-day moving average is $216.53 and its 200-day moving average is $207.66.

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, beating the consensus estimate of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm had revenue of $637.30 million for the quarter, compared to analyst estimates of $625.98 million. During the same period in the previous year, the firm earned $1.51 EPS. SPX Technologies's revenue was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Analysts expect that SPX Technologies will post 5.57 EPS for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

A number of hedge funds have recently added to or reduced their stakes in SPXC. Vanguard Group Inc. increased its position in shares of SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company's stock worth $989,649,000 after acquiring an additional 232,436 shares during the period. Invesco Ltd. grew its stake in SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company's stock worth $351,000,000 after purchasing an additional 722,039 shares in the last quarter. Capital International Investors purchased a new stake in SPX Technologies during the 4th quarter worth about $307,494,000. Geode Capital Management LLC raised its position in 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 purchasing an additional 63,889 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in 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 purchasing an additional 84,117 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.