ValuEngine Downgrades SPX (SPXC) to Sell
ValuEngine downgraded shares of SPX (NYSE:SPXC) from a hold rating to a sell rating in a research report released on Tuesday.
A number of other research analysts also recently issued reports on SPXC. Zacks Investment Research upgraded SPX from a hold rating to a buy rating and set a $41.00 price objective for the company in a research note on Tuesday, July 10th. Buckingham Research initiated coverage on SPX in a research note on Tuesday, September 18th. They set a buy rating and a $41.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $37.75.
Shares of NYSE:SPXC traded down $0.20 during mid-day trading on Tuesday, reaching $29.37. 307,682 shares of the company traded hands, compared to its average volume of 272,684. The company has a market cap of $1.28 billion, a PE ratio of 15.15 and a beta of 1.48. The company has a current ratio of 1.18, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. SPX has a 52 week low of $28.21 and a 52 week high of $39.28.
Several large investors have recently made changes to their positions in the stock. Squar Milner Financial Services LLC bought a new position in SPX in the 2nd quarter worth approximately $134,000. Evanson Asset Management LLC bought a new position in SPX in the 2nd quarter worth approximately $205,000. Aristotle Atlantic Partners LLC bought a new position in SPX in the 2nd quarter worth approximately $211,000. Crossmark Global Holdings Inc. bought a new position in SPX in the 2nd quarter worth approximately $213,000. Finally, Amalgamated Bank bought a new position in SPX in the 2nd quarter worth approximately $241,000. Institutional investors own 86.55% of the company’s stock.
SPX Corporation supplies infrastructure equipment serving the heating and ventilation (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. It operates through three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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