SPX Technologies (NYSE:SPXC) Raised to “Strong-Buy” at Zacks Research

SPX Technologies (NYSE:SPXC) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on SPXC. Truist Financial reaffirmed a “buy” rating and set a $301.00 price objective (up from $295.00) on shares of SPX Technologies in a report on Monday. Oppenheimer reissued an “outperform” rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price target on shares of SPX Technologies in a report on Monday. Wolfe Research reissued an “outperform” rating and issued a $266.00 target price on shares of SPX Technologies in a research note on Thursday, July 9th. Finally, B. Riley Financial lifted their price target on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $266.67.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $215.01 on Tuesday. SPX Technologies has a 52 week low of $179.62 and a 52 week high of $251.08. The company has a 50-day moving average price of $224.68 and a 200 day moving average price of $217.73. The company has a market cap of $10.77 billion, a P/E ratio of 38.67, a PEG ratio of 1.41 and a beta of 1.27. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $640.18 million. During the same period last year, the firm earned $1.65 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Research analysts predict that SPX Technologies will post 8.48 earnings per share for the current year.

Institutional Investors Weigh In On SPX Technologies

Institutional investors have recently bought and sold shares of the stock. Ares Financial Consulting LLC acquired a new position in shares of SPX Technologies in the 4th quarter valued at $37,000. Flagship Harbor Advisors LLC acquired a new position in SPX Technologies in the fourth quarter valued at $40,000. Sound Income Strategies LLC purchased a new stake in SPX Technologies during the fourth quarter valued at about $45,000. Hazlett Burt & Watson Inc. increased its stake in 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 acquiring an additional 85 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of SPX Technologies in the 1st quarter valued at about $51,000. 92.82% of the stock is currently 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.