SPX Technologies, Inc. (NYSE:SPXC) Stock Now Rated “Moderate Buy” by Wall Street Analysts

SPX Technologies, Inc. (NYSE:SPXC) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $248.09.

SPXC has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 target price on shares of SPX Technologies in a research report on Monday, August 3rd. JPMorgan Chase & Co. reduced their target price on shares of SPX Technologies from $282.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday. B. Riley Financial raised their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Zacks Research downgraded shares of SPX Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, Vertical Research assumed coverage on shares of SPX Technologies in a research report on Monday, September 28th. They set a “buy” rating and a $215.00 target price on the stock.

Institutional Trading of SPX Technologies

A number of hedge funds have recently bought and sold shares of SPXC. Hsbc Holdings PLC increased its holdings in SPX Technologies by 181.2% during the second quarter. Hsbc Holdings PLC now owns 9,106 shares of the company’s stock worth $2,222,000 after buying an additional 5,868 shares during the last quarter. Amundi raised its holdings in shares of SPX Technologies by 31.2% in the 2nd quarter. Amundi now owns 324,732 shares of the company’s stock worth $79,645,000 after purchasing an additional 77,148 shares during the period. Renaissance Technologies LLC purchased a new position in SPX Technologies in the first quarter valued at approximately $1,000,000. Squarepoint Ops LLC bought a new position in SPX Technologies during the second quarter valued at $14,194,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in SPX Technologies in the second quarter worth $4,903,000. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Price Performance

SPXC stock opened at $168.38 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. The company’s 50-day moving average is $191.91 and its 200-day moving average is $208.44. The stock has a market capitalization of $8.43 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.09 and a beta of 1.24. SPX Technologies has a 1 year low of $166.17 and a 1 year high of $251.08.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%. The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. During the same period in the previous year, the company posted $1.65 EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Equities research analysts expect that SPX Technologies will post 8.48 EPS for the current fiscal year.

SPX Technologies Company Profile

SPX Technologies, Inc is a diversified industrial technology company headquartered in Charlotte, North Carolina. The company designs, manufactures and services highly engineered products and solutions used by customers in the heating, ventilation and air-conditioning (HVAC), infrastructure and industrial markets.

SPX’s HVAC businesses provide cooling towers, evaporative and air-cooled cooling systems, boilers, heat-transfer equipment, air-handling products and related services. Its brands include Marley, Recold, Weil-McLain, Patterson-Kelley, Berko and QMark.