ValuEngine upgraded shares of SPX (NYSE:SPXC) from a sell rating to a hold rating in a research report released on Monday.

A number of other equities research analysts have also recently issued reports on the stock. Buckingham Research started coverage on shares of SPX in a report on Tuesday, September 18th. They set a buy rating and a $41.00 price target for the company. Zacks Investment Research cut shares of SPX from a hold rating to a strong sell rating in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $37.75.

NYSE:SPXC traded up $0.03 during trading hours on Monday, reaching $29.42. The company’s stock had a trading volume of 4,205 shares, compared to its average volume of 227,086. The stock has a market capitalization of $1.28 billion, a PE ratio of 16.51 and a beta of 1.48. SPX has a one year low of $28.21 and a one year high of $39.28. 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 (NYSE:SPXC) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.09). The business had revenue of $362.50 million during the quarter, compared to the consensus estimate of $348.90 million. SPX had a return on equity of 25.23% and a net margin of 6.79%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, sell-side analysts forecast that SPX will post 2.15 earnings per share for the current fiscal year.

In other SPX news, VP John Webster Nurkin sold 16,800 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $29.08, for a total transaction of $488,544.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of SPX by 5.2% during the first quarter. Principal Financial Group Inc. now owns 335,442 shares of the company’s stock valued at $10,895,000 after buying an additional 16,598 shares during the last quarter. Northern Trust Corp raised its position in SPX by 1.5% in the second quarter. Northern Trust Corp now owns 532,931 shares of the company’s stock worth $18,679,000 after purchasing an additional 8,107 shares in the last quarter. Verition Fund Management LLC acquired a new position in SPX in the second quarter worth about $261,000. BlackRock Inc. raised its position in SPX by 8.8% in the second quarter. BlackRock Inc. now owns 5,827,779 shares of the company’s stock worth $204,264,000 after purchasing an additional 470,558 shares in the last quarter. Finally, Selz Capital LLC raised its position in SPX by 12.1% in the third quarter. Selz Capital LLC now owns 1,058,500 shares of the company’s stock worth $35,259,000 after purchasing an additional 113,845 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

About SPX

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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