SPX Technologies (NYSE:SPXC) Stock Price Up 15.4% Following Better-Than-Expected Earnings

SPX Technologies, Inc. (NYSE:SPXC) shares shot up 15.4% during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $236.89 and last traded at $229.9320. 132,535 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 575,165 shares. The stock had previously closed at $199.30.

The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS.

Key SPX Technologies News

Here are the key news stories impacting SPX Technologies this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. SPX Technologies reported adjusted EPS of $2.02, up from $1.65 a year earlier and above the $1.85 analyst consensus. Revenue increased 22.9% year over year to $679 million, surpassing estimates of approximately $640 million. SPX Technologies Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management raised 2026 guidance. Full-year adjusted EPS is now expected at $8.20-$8.60, with a midpoint of $8.40, above the prior outlook and the roughly $8.02 consensus estimate. Revenue guidance of $2.7 billion-$2.8 billion also exceeds Wall Street expectations of about $2.6 billion. SPX Technologies Signals Data Center Capacity and Lifts 2026 EPS Guidance
• Positive Sentiment: Data-center exposure strengthened the growth outlook. The company highlighted approximately $1.1 billion of data-center-related capacity, supporting expectations for continued demand across its HVAC, cooling and power-infrastructure businesses. SPX Technologies Q2 Earnings Call Highlights
• Neutral Sentiment: Analysts maintain an overall “Moderate Buy” rating, while SPXC trades at a relatively elevated valuation of about 46 times earnings and near its 12-month high. That valuation could increase sensitivity to any slowdown in growth or future guidance.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. Wolfe Research reissued an “outperform” rating and issued a $266.00 target price on shares of SPX Technologies in a report on Thursday, July 9th. Truist Financial raised their price target on SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen downgraded SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

Institutional Investors Weigh In On SPX Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ares Financial Consulting LLC purchased a new stake in SPX Technologies in the 4th quarter valued at $37,000. Flagship Harbor Advisors LLC purchased a new position in SPX Technologies during the 4th quarter worth $40,000. Sound Income Strategies LLC purchased a new stake in shares of SPX Technologies in the fourth quarter valued at about $45,000. Hazlett Burt & Watson Inc. boosted its stake in shares of SPX Technologies by 56.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after buying an additional 85 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in shares of SPX Technologies by 21.4% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $224.39 and a 200-day moving average of $217.59. The stock has a market cap of $11.57 billion, a PE ratio of 45.23, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27.

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.