Analysts Set SPX Technologies, Inc. (NYSE:SPXC) PT at $214.14

Shares of SPX Technologies, Inc. (NYSE:SPXC) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $214.1429.

A number of research firms have commented on SPXC. B. Riley reaffirmed a “buy” rating and issued a $244.00 target price (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Wells Fargo & Company started coverage on SPX Technologies in a report on Tuesday, October 14th. They issued an “overweight” rating and a $205.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. TD Cowen assumed coverage on SPX Technologies in a research report on Monday, November 10th. They issued a “hold” rating and a $225.00 target price on the stock. Finally, Bank of America started coverage on shares of SPX Technologies in a research report on Wednesday, October 8th. They set a “neutral” rating and a $202.00 price target for the company.

Insider Buying and Selling

In other news, insider John William Swann III sold 38,755 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the sale, the insider owned 64,266 shares of the company’s stock, valued at $13,243,294.62. The trade was a 37.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the transaction, the insider directly owned 38,020 shares in the company, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.32% of the stock is currently owned by corporate insiders.

Institutional Trading of SPX Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. bought a new position in shares of SPX Technologies during the 3rd quarter valued at approximately $28,000. Cullen Frost Bankers Inc. lifted its holdings in SPX Technologies by 52.9% during the third quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. Optiver Holding B.V. lifted its holdings in SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after purchasing an additional 84 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of SPX Technologies in the second quarter worth approximately $31,000. Finally, Financial Consulate Inc. purchased a new stake in SPX Technologies in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $208.49 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 1.74 and a beta of 1.33. The business has a 50-day simple moving average of $210.81 and a two-hundred day simple moving average of $194.84. SPX Technologies has a fifty-two week low of $115.00 and a fifty-two week high of $233.71.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.24. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The firm had revenue of $592.80 million for the quarter, compared to the consensus estimate of $574.32 million. During the same quarter last year, the firm posted $1.39 EPS. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, analysts expect that SPX Technologies will post 5.57 earnings per share for the current year.

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.