SPX Technologies (NYSE:SPXC) Price Target Raised to $251.00

SPX Technologies (NYSE:SPXC) had its target price upped by Truist Financial from $244.00 to $251.00 in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company lowered their price objective on SPX Technologies from $270.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. TD Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. JPMorgan Chase & Co. started coverage on SPX Technologies in a research report on Wednesday, March 4th. They set an “overweight” rating and a $260.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Finally, BMO Capital Markets started coverage on SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, SPX Technologies presently has an average rating of “Moderate Buy” and an average target price of $245.56.

SPX Technologies Trading Up 1.9%

NYSE:SPXC opened at $220.52 on Monday. The stock has a 50-day simple moving average of $214.76 and a 200-day simple moving average of $210.38. The stock has a market cap of $11.07 billion, a P/E ratio of 44.02, a P/E/G ratio of 1.66 and a beta of 1.34. SPX Technologies has a 1 year low of $126.67 and a 1 year high of $246.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $625.98 million. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.51 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, analysts anticipate that SPX Technologies will post 7.79 earnings per share for the current fiscal year.

Institutional Trading of SPX Technologies

Several institutional investors and hedge funds have recently made changes to their positions in SPXC. Capital International Investors purchased a new stake in shares of SPX Technologies in the 4th quarter valued at about $307,494,000. Invesco Ltd. lifted its holdings in shares of SPX Technologies by 62.4% in the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares during the last quarter. Norges Bank purchased a new stake in shares of SPX Technologies in the 4th quarter valued at about $123,721,000. Vanguard Group Inc. lifted its holdings in shares of SPX Technologies by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after purchasing an additional 232,436 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of SPX Technologies in the 3rd quarter valued at about $41,092,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

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.