SPX Technologies (NYSE:SPXC) Stock Rating Raised to “Strong-Buy” at Robert W. Baird

Robert W. Baird upgraded shares of SPX Technologies (NYSE:SPXC) to a strong-buy rating in a research note published on Monday,Zacks reports.

A number of other research firms have also weighed in on SPXC. Vertical Research initiated coverage on shares of SPX Technologies in a research note on Monday, September 28th. They set a “buy” rating and a $215.00 price objective for the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 price target on shares of SPX Technologies in a research report on Monday, August 3rd. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research lowered shares of SPX Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, Weiss Ratings cut shares of SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $252.18.

SPX Technologies Price Performance

Shares of SPX Technologies stock opened at $176.22 on Monday. The company has a fifty day moving average of $194.78 and a 200-day moving average of $209.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. SPX Technologies has a 52-week low of $166.17 and a 52-week high of $251.08. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. 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 year.

Hedge Funds Weigh In On SPX Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of SPXC. Cim Investment Management Inc. lifted its position in shares of SPX Technologies by 21.5% in the second quarter. Cim Investment Management Inc. now owns 1,551 shares of the company’s stock worth $380,000 after buying an additional 274 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of SPX Technologies in the 2nd quarter worth approximately $293,000. Sequoia Financial Advisors LLC increased its position in shares of SPX Technologies by 36.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,466 shares of the company’s stock valued at $1,095,000 after purchasing an additional 1,186 shares during the last quarter. Tidal Investments LLC raised its holdings in SPX Technologies by 10.7% during the 2nd quarter. Tidal Investments LLC now owns 52,384 shares of the company’s stock valued at $12,843,000 after buying an additional 5,061 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in SPX Technologies during the 2nd quarter valued at $87,000. Institutional investors own 92.82% of the company’s stock.

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.