SPX Technologies, Inc. (NYSE:SPXC) Receives $213.14 Average Price Target from Analysts

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $213.1429.

A number of equities research analysts have issued reports on SPXC shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research note on Monday, December 8th. B. Riley reiterated a “buy” rating and set a $244.00 price target (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company began coverage on SPX Technologies in a research note on Tuesday, October 14th. They set an “overweight” rating and a $205.00 target price for the company. Finally, Bank of America began coverage on SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 target price on the stock.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the transaction, the insider owned 64,266 shares in the company, valued at $13,243,294.62. The trade was a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.32% of the stock is owned by company insiders.

Institutional Trading of SPX Technologies

Hedge funds have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. acquired a new position in shares of SPX Technologies in the third quarter valued at approximately $28,000. Cullen Frost Bankers Inc. increased its position in SPX Technologies by 52.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after acquiring an additional 54 shares during the period. Optiver Holding B.V. raised its stake in shares of SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after acquiring an additional 84 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SPX Technologies during the second quarter worth $31,000. Finally, Financial Consulate Inc. acquired a new position in shares of SPX Technologies during the third quarter worth $34,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Price Performance

SPX Technologies stock opened at $220.23 on Friday. The firm has a market cap of $10.98 billion, a PE ratio of 47.16, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70. The stock’s fifty day moving average price is $204.49 and its two-hundred day moving average price is $187.50. SPX Technologies has a one year low of $115.00 and a one year high of $233.71.

SPX Technologies (NYSE:SPXC) last released its earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The firm had revenue of $592.80 million during the quarter, compared to the consensus estimate of $574.32 million. During the same period in the prior year, the company posted $1.39 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, research analysts expect that SPX Technologies will post 5.57 EPS for the current fiscal year.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.