SPX Technologies, Inc. (NYSE:SPXC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

SPX Technologies, Inc. (NYSE:SPXC) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $249.4444.

Several brokerages recently issued reports on SPXC. BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective for the company. Wells Fargo & Company boosted their target price on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Truist Financial upped their price objective on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Monday, May 4th.

SPX Technologies Stock Up 2.9%

SPX Technologies stock opened at $238.57 on Tuesday. The company’s 50 day simple moving average is $221.00 and its 200 day simple moving average is $216.16. SPX Technologies has a fifty-two week low of $165.15 and a fifty-two week high of $251.08. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 1.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The business had revenue of $566.80 million during the quarter, compared to analyst estimates of $557.62 million. During the same period in the previous year, the firm earned $1.38 EPS. SPX Technologies’s quarterly revenue was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, sell-side analysts anticipate that SPX Technologies will post 7.98 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in SPX Technologies by 23.2% during the 1st quarter. Pacer Advisors Inc. now owns 13,268 shares of the company’s stock worth $2,653,000 after buying an additional 2,498 shares during the period. Parallel Advisors LLC increased its position in SPX Technologies by 38.1% during the 1st quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock worth $62,000 after buying an additional 86 shares during the period. Cim Investment Management Inc. grew its holdings in shares of SPX Technologies by 22.4% during the 1st quarter. Cim Investment Management Inc. now owns 1,277 shares of the company’s stock worth $255,000 after purchasing an additional 234 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of SPX Technologies by 13.0% during the 1st quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock worth $63,358,000 after purchasing an additional 36,340 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of SPX Technologies by 5.9% during the 1st quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock worth $153,011,000 after purchasing an additional 42,921 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

About SPX Technologies

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.