SPX Technologies, Inc. (NYSE:SPXC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $249.2857.

A number of equities research analysts have issued reports on SPXC shares. Wells Fargo & Company upped their target price on SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. B. Riley Financial reaffirmed a “buy” rating and set a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Oppenheimer boosted their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Bank of America raised SPX Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $280.00 in a research report on Friday, February 13th.

SPX Technologies Trading Down 2.5%

Shares of NYSE:SPXC opened at $219.44 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $10.95 billion, a PE ratio of 43.80, a P/E/G ratio of 1.74 and a beta of 1.30. SPX Technologies has a 1 year low of $115.00 and a 1 year high of $246.68. The firm has a fifty day moving average price of $218.75 and a 200 day moving average price of $205.55.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The company 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 quarter in the previous year, the firm earned $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Analysts expect that SPX Technologies will post 5.57 EPS for the current fiscal year.

Insider Transactions at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider owned 38,020 shares of the company’s stock, valued at $8,188,367.40. This trade represents a 23.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in SPX Technologies by 4.6% during 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. Invesco Ltd. increased its holdings in shares of SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares during the period. Capital International Investors acquired a new position in shares of SPX Technologies during the fourth quarter valued at about $307,494,000. Geode Capital Management LLC lifted its stake in shares of SPX Technologies by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock valued at $242,874,000 after buying an additional 63,889 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in SPX Technologies by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock worth $235,368,000 after buying an additional 84,117 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

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.