BidaskClub upgraded shares of SPX Corp (NASDAQ:SPXC) from a buy rating to a strong-buy rating in a research report released on Saturday.

Separately, Zacks Investment Research raised shares of SPX Corp from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research report on Tuesday, August 8th.

SPX Corp (SPXC) opened at 30.12 on Friday. SPX Corp has a 52-week low of $15.49 and a 52-week high of $30.14. The company has a 50-day moving average price of $25.74 and a 200 day moving average price of $25.30. The company’s market capitalization is $1.28 billion.

SPX Corp (NASDAQ:SPXC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.09. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The business had revenue of $349.70 million during the quarter, compared to analyst estimates of $354.84 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts anticipate that SPX Corp will post $1.75 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of the company. Flinton Capital Management LLC lifted its holdings in shares of SPX Corp by 40.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,114 shares of the company’s stock valued at $103,000 after purchasing an additional 1,190 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of SPX Corp by 43.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,164 shares of the company’s stock worth $105,000 after purchasing an additional 1,264 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of SPX Corp in the 1st quarter worth $113,000. Quantbot Technologies LP acquired a new stake in shares of SPX Corp in the 1st quarter worth $148,000. Finally, AXA acquired a new stake in shares of SPX Corp in the 1st quarter worth $201,000.

About SPX Corp

SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.

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