William Blair Lifts Earnings Estimates for SPX Technologies

Key Points

• William Blair has revised its FY2025 earnings per share estimate for SPX Technologies from $6.40 to $6.60, while the consensus estimate for the current full year is $5.57.
• SPX Technologies saw its shares trade up 7.7%, with a current market cap of $9.18 billion and a price-to-earnings ratio of 44.14.
• Recent analysis shows strong backing for SPX Technologies, with multiple analysts providing "buy" ratings and raising their price targets, including UBS Group which raised its target from $182.00 to $210.00.

SPX Technologies, Inc. (NYSE:SPXC - Free Report) - Stock analysts at William Blair raised their FY2025 earnings per share (EPS) estimates for SPX Technologies in a research note issued to investors on Friday, August 1st. William Blair analyst R. Sparenblek now anticipates that the company will post earnings of $6.60 per share for the year, up from their prior estimate of $6.40. The consensus estimate for SPX Technologies' current full-year earnings is $5.57 per share. William Blair also issued estimates for SPX Technologies' FY2026 earnings at $7.55 EPS.

SPXC has been the topic of a number of other reports. B. Riley assumed coverage on SPX Technologies in a research report on Thursday, May 15th. They set a "buy" rating and a $195.00 price objective on the stock. UBS Group upped their price objective on SPX Technologies from $182.00 to $210.00 and gave the company a "buy" rating in a research report on Friday. Finally, Oppenheimer upped their price objective on SPX Technologies from $170.00 to $197.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SPX Technologies currently has a consensus rating of "Buy" and an average price target of $195.20.

SPX Technologies Trading Up 7.7%

Shares of SPXC stock opened at $196.43 on Monday. SPX Technologies has a 1 year low of $115.00 and a 1 year high of $198.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. The stock's 50 day simple moving average is $166.62 and its two-hundred day simple moving average is $149.97. The company has a market cap of $9.18 billion, a PE ratio of 44.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.27.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.20. The company had revenue of $552.40 million for the quarter, compared to the consensus estimate of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 earnings per share.

Institutional Investors Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. purchased a new stake in shares of SPX Technologies in the first quarter worth approximately $27,000. Eastern Bank bought a new position in SPX Technologies in the first quarter worth approximately $38,000. SVB Wealth LLC bought a new position in SPX Technologies in the first quarter worth approximately $39,000. Covestor Ltd grew its stake in SPX Technologies by 313.8% in the fourth quarter. Covestor Ltd now owns 389 shares of the company's stock worth $57,000 after purchasing an additional 295 shares in the last quarter. Finally, Quarry LP bought a new position in SPX Technologies in the first quarter worth approximately $57,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $153.01, for a total value of $1,043,987.23. Following the sale, the director directly owned 33,770 shares in the company, valued at approximately $5,167,147.70. This represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.32% of the company's stock.

About SPX Technologies

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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