SPX Corp (SPXC) Lifted to “Strong-Buy” at BidaskClub
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.
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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