BMO Capital Markets Begins Coverage on SPX Technologies (NYSE:SPXC)

Research analysts at BMO Capital Markets started coverage on shares of SPX Technologies (NYSE:SPXC) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $243.00 price target on the stock. BMO Capital Markets’ price objective suggests a potential upside of 20.95% from the stock’s previous close.

Several other equities research analysts have also weighed in on SPXC. Truist Financial increased their price objective on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. began coverage on SPX Technologies in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 target price for the company. Oppenheimer upped their target price on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.67.

SPX Technologies Stock Down 0.2%

SPXC opened at $200.90 on Friday. SPX Technologies has a 1 year low of $115.00 and a 1 year high of $246.68. The firm has a 50 day moving average price of $217.74 and a 200 day moving average price of $207.20. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48. The company has a market cap 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.

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

Hedge Funds Weigh In On SPX Technologies

A number of large investors have recently made changes to their positions in SPXC. Hazlett Burt & Watson Inc. purchased a new stake in shares of SPX Technologies during the third quarter worth $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 worth $29,000 after purchasing an additional 54 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of SPX Technologies by 110.5% during the 3rd quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock worth $30,000 after purchasing an additional 84 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SPX Technologies during the 2nd quarter worth about $31,000. Finally, Financial Consulate Inc. acquired a new stake in shares of SPX Technologies during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds 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.