ValuEngine cut shares of SPX (NYSE:SPXC) from a buy rating to a hold rating in a report released on Friday.

A number of other analysts also recently commented on SPXC. UBS boosted their price target on shares of SPX from $36.00 to $39.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Zacks Investment Research downgraded shares of SPX from a buy rating to a hold rating in a research report on Wednesday, October 4th. TheStreet upgraded shares of SPX from a d+ rating to a c rating in a research report on Monday, November 6th. Finally, BidaskClub upgraded shares of SPX from a hold rating to a buy rating in a research report on Wednesday, September 20th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. SPX presently has a consensus rating of Buy and a consensus price target of $37.00.

Shares of SPX (NYSE:SPXC) traded down $0.20 during trading hours on Friday, reaching $31.37. 116,900 shares of the company traded hands, compared to its average volume of 269,913. The company has a market cap of $1,345.17, a P/E ratio of 16.88 and a beta of 1.72. SPX has a 12-month low of $21.97 and a 12-month high of $32.71. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 1.15.

SPX (NYSE:SPXC) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The firm had revenue of $348.50 million for the quarter, compared to the consensus estimate of $343.12 million. SPX had a negative net margin of 3.86% and a positive return on equity of 37.49%. SPX’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. sell-side analysts anticipate that SPX will post 1.8 EPS for the current fiscal year.

In related news, CAO Michael Andrew Reilly sold 3,833 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $30.59, for a total value of $117,251.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPXC. Rothschild Asset Management Inc. raised its holdings in shares of SPX by 506.5% in the 3rd quarter. Rothschild Asset Management Inc. now owns 1,168,111 shares of the company’s stock worth $34,272,000 after purchasing an additional 975,500 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of SPX by 12.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock worth $106,465,000 after purchasing an additional 455,828 shares in the last quarter. Evercore Trust Company N.A. bought a new stake in shares of SPX in the 2nd quarter worth approximately $8,396,000. Sei Investments Co. raised its holdings in shares of SPX by 538.5% in the 3rd quarter. Sei Investments Co. now owns 240,676 shares of the company’s stock worth $7,062,000 after purchasing an additional 202,984 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of SPX in the 2nd quarter worth approximately $5,020,000. Institutional investors and hedge funds own 87.41% of the company’s stock.

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About SPX

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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