SPX Technologies (NYSE:SPXC) Upgraded by Truist Financial to “Buy” Rating

SPX Technologies (NYSE:SPXC) was upgraded by analysts at Truist Financial from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage presently has a $243.00 target price on the stock. Truist Financial’s price target points to a potential upside of 20.95% from the stock’s previous close.

A number of other research analysts have also commented on the company. Oppenheimer upped their price objective on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. B. Riley Financial reissued a “buy” rating and set a $244.00 target price (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. JPMorgan Chase & Co. initiated coverage on shares of SPX Technologies in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 target price for the company. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $280.00 in a research note on Friday, February 13th. Finally, TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies has an average rating of “Moderate Buy” and an average target price of $249.67.

SPX Technologies Trading Down 0.2%

Shares of SPXC stock opened at $200.90 on Friday. SPX Technologies has a 12-month low of $115.00 and a 12-month high of $246.68. The company has a market capitalization of $10.02 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. The firm has a 50 day moving average price of $217.74 and a two-hundred day moving average price of $207.20. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The company had revenue of $637.30 million for the quarter, compared to the consensus estimate of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, analysts predict that SPX Technologies will post 5.57 earnings per share for the current year.

Hedge Funds Weigh In On SPX Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its holdings in SPX Technologies by 21.4% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after acquiring an additional 45 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of SPX Technologies by 1.6% during the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock worth $586,000 after purchasing an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of SPX Technologies by 52.9% in the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after purchasing an additional 54 shares during the period. Ameritas Investment Partners Inc. raised its stake in SPX Technologies by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,661 shares of the company’s stock valued at $782,000 after purchasing an additional 56 shares in the last quarter. Finally, Intrust Bank NA raised its stake in SPX Technologies by 3.6% in the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock valued at $332,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.