SPX Technologies (NYSE:SPXC) Price Target Raised to $140.00 at Oppenheimer

SPX Technologies (NYSE:SPXC) had its target price upped by Oppenheimer from $134.00 to $140.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on SPXC. UBS Group boosted their price objective on SPX Technologies from $90.00 to $126.00 and gave the stock a neutral rating in a research note on Wednesday, March 27th. StockNews.com lowered shares of SPX Technologies from a buy rating to a hold rating in a report on Friday, March 15th.

SPX Technologies Price Performance

SPXC traded up $8.99 on Friday, hitting $130.94. 626,305 shares of the company’s stock were exchanged, compared to its average volume of 247,577. The firm has a 50-day moving average price of $118.55 and a 200-day moving average price of $102.62. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 63.90, a P/E/G ratio of 1.34 and a beta of 1.24. The company has a current ratio of 1.77, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44. SPX Technologies has a fifty-two week low of $61.09 and a fifty-two week high of $132.79.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.19. The firm had revenue of $465.20 million for the quarter, compared to analyst estimates of $454.05 million. SPX Technologies had a net margin of 5.32% and a return on equity of 18.44%. SPX Technologies’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, equities analysts anticipate that SPX Technologies will post 5.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $115.34, for a total value of $4,036,900.00. Following the transaction, the chief executive officer now owns 667,045 shares of the company’s stock, valued at approximately $76,936,970.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Eugene Joseph Lowe III sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the sale, the chief executive officer now directly owns 667,045 shares of the company’s stock, valued at approximately $76,936,970.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares in the company, valued at $9,747,987.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,373 shares of company stock worth $10,962,146. Company insiders own 3.53% of the company’s stock.

Institutional Investors Weigh In On SPX Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. YHB Investment Advisors Inc. acquired a new stake in SPX Technologies during the 1st quarter worth approximately $51,000. Palisade Asset Management LLC acquired a new stake in shares of SPX Technologies in the first quarter valued at $74,000. TFO Wealth Partners LLC raised its stake in shares of SPX Technologies by 58,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock valued at $118,000 after acquiring an additional 1,168 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in SPX Technologies by 54.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after purchasing an additional 475 shares during the period. Finally, MCF Advisors LLC acquired a new position in SPX Technologies during the 4th quarter worth $173,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.