Truist Financial Raises SPX Technologies (NYSE:SPXC) Price Target to $295.00

SPX Technologies (NYSE:SPXC) had its price objective upped by analysts at Truist Financial from $261.00 to $295.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 27.11% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. raised their target price on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. BMO Capital Markets initiated coverage on SPX Technologies in a research note on Friday, March 27th. They issued an “outperform” rating and a $243.00 price target on the stock. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Finally, Wells Fargo & Company increased their price objective on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SPX Technologies currently has an average rating of “Moderate Buy” and an average target price of $253.22.

SPX Technologies Trading Down 5.3%

Shares of SPXC stock opened at $232.08 on Thursday. The firm has a fifty day moving average of $221.71 and a 200-day moving average of $216.40. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 45.42, a P/E/G ratio of 1.80 and a beta of 1.26. SPX Technologies has a 52-week low of $168.61 and a 52-week high of $251.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Thursday, April 30th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.14. The business had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, equities research analysts forecast that SPX Technologies will post 7.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors acquired a new stake in SPX Technologies during the 4th quarter valued at $307,494,000. First Trust Advisors LP grew its holdings in shares of SPX Technologies by 181.4% during the first quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock worth $272,492,000 after purchasing an additional 878,494 shares during the last quarter. Invesco Ltd. raised its holdings in shares of SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after buying an additional 722,039 shares during the last quarter. Norges Bank acquired a new position in SPX Technologies during the 4th quarter worth about $123,721,000. Finally, ArrowMark Colorado Holdings LLC acquired a new position in SPX Technologies during the 4th quarter worth about $34,898,000. 92.82% of the stock is owned by institutional investors and hedge funds.

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.