SPX Technologies (NYSE:SPXC) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of SPX Technologies (NYSE:SPXC) in a research report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $260.00 target price on the stock.

Several other equities analysts have also issued reports on SPXC. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Oppenheimer raised their target price on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Wells Fargo & Company boosted their price target on shares of SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Finally, Truist Financial raised their price objective on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $250.63.

SPX Technologies Stock Performance

NYSE SPXC opened at $222.09 on Wednesday. The company has a fifty day moving average price of $219.02 and a 200-day moving average price of $205.66. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 44.33, a PEG ratio of 1.70 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. SPX Technologies has a 1 year low of $115.00 and a 1 year high of $246.68.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share 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 business had revenue of $637.30 million for the quarter, compared to analysts’ expectations of $625.98 million. During the same period in the previous year, the company earned $1.51 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, equities research analysts predict that SPX Technologies will post 5.57 EPS for the current fiscal year.

Insider Activity

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction dated 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 owned 38,020 shares in the company, valued at $8,188,367.40. This trade represents a 23.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hazlett Burt & Watson Inc. purchased a new position in SPX Technologies during the third quarter valued at approximately $28,000. Cullen Frost Bankers Inc. lifted its stake 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 in the last quarter. Optiver Holding B.V. boosted its holdings in SPX Technologies by 110.5% in the 3rd quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after purchasing an additional 84 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of SPX Technologies during the 2nd quarter valued at $31,000. Finally, Financial Consulate Inc. bought a new position in shares of SPX Technologies in the third quarter worth $34,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

About SPX Technologies

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.