SPX Technologies (NYSE:SPXC) Stock Price Down 6.3% – Here’s What Happened

SPX Technologies, Inc. (NYSE:SPXC) shares fell 6.3% during mid-day trading on Friday . The company traded as low as $187.89 and last traded at $189.5280. 154,374 shares were traded during mid-day trading, a decline of 60% from the average session volume of 382,250 shares. The stock had previously closed at $202.36.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SPXC shares. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. B. Riley Financial reaffirmed a “buy” rating and set a $244.00 target price (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. JPMorgan Chase & Co. initiated coverage on shares of SPX Technologies in a report on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on shares of SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $250.63.

SPX Technologies Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. The stock’s 50-day moving average price is $219.07 and its 200-day moving average price is $206.81. The company has a market cap of $9.23 billion, a P/E ratio of 36.95, a PEG ratio of 1.55 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm had revenue of $637.30 million during the quarter, compared to the consensus estimate of $625.98 million. During the same quarter in the previous year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Equities analysts anticipate that SPX Technologies, Inc. will post 5.57 EPS for the current year.

Hedge Funds Weigh In On SPX Technologies

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of SPX Technologies by 8.1% in the 1st quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after buying an additional 2,892 shares in the last quarter. AQR Capital Management LLC increased its stake in SPX Technologies by 74.5% in the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after acquiring an additional 8,854 shares during the last quarter. Millennium Management LLC increased its stake in SPX Technologies by 214.4% in the first quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after acquiring an additional 56,799 shares during the last quarter. NewEdge Advisors LLC raised its position in SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after purchasing an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in SPX Technologies by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock worth $24,742,000 after purchasing an additional 3,353 shares during the last quarter. 92.82% of the stock is owned by 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.