SPX Technologies (NYSE:SPXC) Given Outperform Rating at Wolfe Research

by · The Cerbat Gem

SPX Technologies (NYSE:SPXC – Get Free Report)‘s stock had its “outperform” rating reiterated by research analysts at Wolfe Research in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $250.00 price target on the stock. Wolfe Research’s target price would indicate a potential upside of 36.65% from the stock’s current price.

Several other analysts have also recently issued reports on SPXC. B. Riley Financial upped their price objective on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Zacks Research upgraded SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded SPX Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. Oppenheimer reissued an “outperform” rating and set a $280.00 price target (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $250.00 price objective on shares of SPX Technologies in a research note on Monday, August 3rd. One 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $264.89.

Get Our Latest Stock Report on SPX Technologies

SPX Technologies Price Performance

SPXC opened at $182.95 on Tuesday. The company has a 50-day moving average of $208.00 and a 200-day moving average of $213.50. The company has a market capitalization of $9.16 billion, a P/E ratio of 32.90, a PEG ratio of 1.25 and a beta of 1.27. SPX Technologies has a 1-year low of $179.62 and a 1-year high of $251.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82.

SPX Technologies (NYSE:SPXC – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same quarter in the prior year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Equities analysts expect that SPX Technologies will post 8.47 EPS for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

A number of hedge funds have recently added to or reduced their stakes in SPXC. Group One Trading LLC acquired a new stake in shares of SPX Technologies in the 2nd quarter worth about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in SPX Technologies in the 2nd quarter worth about $47,000. Hazlett Burt & Watson Inc. increased its stake in shares of SPX Technologies by 56.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after purchasing an additional 85 shares during the period. Summit Securities Group LLC bought a new stake in shares of SPX Technologies during the first quarter valued at approximately $51,000. Finally, Hantz Financial Services Inc. raised its stake in SPX Technologies by 21.4% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after acquiring an additional 45 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Company Profile

(Get Free Report)

SPX Technologies, Inc is a Charlotte, North Carolina-based industrial technology company that provides equipment and services used in heating, ventilation, air conditioning, cooling, and infrastructure applications. The company serves customers in commercial, industrial, utility, and residential markets through operations in North America and internationally.

SPX Technologies operates through two principal segments: HVAC and Detection & Measurement. Its HVAC businesses develop and manufacture cooling towers, evaporative cooling systems, air-conditioning and heating equipment, boilers, and related products.

Read More