ValuEngine cut shares of SPX (NYSE:SPXC) from a hold rating to a sell rating in a research note published on Wednesday.

Several other brokerages have also commented on SPXC. Zacks Investment Research lowered SPX from a hold rating to a strong sell rating in a research note on Thursday, November 8th. Buckingham Research decreased their price target on SPX from $41.00 to $37.00 and set a buy rating on the stock in a research note on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. SPX currently has an average rating of Hold and an average price target of $37.75.

SPXC opened at $27.02 on Wednesday. The company has a market cap of $1.20 billion, a PE ratio of 15.18 and a beta of 1.47. The company has a current ratio of 1.18, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. SPX has a 1 year low of $26.35 and a 1 year high of $39.28.

SPX (NYSE:SPXC) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). The firm had revenue of $362.50 million for the quarter, compared to the consensus estimate of $348.90 million. SPX had a net margin of 6.79% and a return on equity of 25.23%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, research analysts predict that SPX will post 2.2 earnings per share for the current year.

In related news, VP John Webster Nurkin sold 16,800 shares of the business’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $29.08, for a total value of $488,544.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.60% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in SPXC. BlackRock Inc. boosted its stake in SPX by 5.0% in the third quarter. BlackRock Inc. now owns 6,119,749 shares of the company’s stock worth $203,849,000 after purchasing an additional 291,970 shares in the last quarter. Vanguard Group Inc. boosted its stake in SPX by 1.6% in the third quarter. Vanguard Group Inc. now owns 4,687,700 shares of the company’s stock worth $156,148,000 after purchasing an additional 75,127 shares in the last quarter. Selz Capital LLC boosted its stake in SPX by 12.1% in the third quarter. Selz Capital LLC now owns 1,058,500 shares of the company’s stock worth $35,259,000 after purchasing an additional 113,845 shares in the last quarter. FMR LLC boosted its stake in SPX by 21.7% in the third quarter. FMR LLC now owns 952,329 shares of the company’s stock worth $31,722,000 after purchasing an additional 169,619 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in SPX by 2.7% in the third quarter. Peregrine Capital Management LLC now owns 858,732 shares of the company’s stock worth $28,604,000 after purchasing an additional 22,684 shares in the last quarter. 86.54% of the stock is currently owned by institutional investors and hedge funds.

SPX Company Profile

SPX Corporation supplies infrastructure equipment serving the heating and ventilation (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. It operates through three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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