SPX Technologies, Inc. (NYSE:SPXC) Receives $214.14 Consensus Target Price from Brokerages

by · The Markets Daily

SPX Technologies, Inc. (NYSE:SPXC – Get Free Report) has earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $214.1429.

Several research analysts have commented on SPXC shares. Bank of America started coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price objective for the company. Truist Financial increased their price target on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Cowen reaffirmed a “hold” rating on shares of SPX Technologies in a research report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Finally, B. Riley reissued a “buy” rating and issued a $244.00 target price (up previously from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th.

View Our Latest Research Report on SPX Technologies

SPX Technologies Stock Performance

Shares of SPXC stock opened at $207.35 on Tuesday. The company has a market capitalization of $10.33 billion, a P/E ratio of 44.40, a PEG ratio of 1.74 and a beta of 1.33. SPX Technologies has a fifty-two week low of $115.00 and a fifty-two week high of $233.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47. The stock has a 50 day moving average price of $210.95 and a two-hundred day moving average price of $194.31.

SPX Technologies (NYSE:SPXC – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.60 by $0.24. The firm had revenue of $592.80 million during the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. Analysts expect that SPX Technologies will post 5.57 earnings per share for the current year.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John William Swann III sold 38,755 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the sale, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of SPX Technologies by 62.4% in 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 in the last quarter. Norges Bank bought a new stake in SPX Technologies in the second quarter worth $97,223,000. Vanguard Group Inc. boosted its holdings in SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after acquiring an additional 232,436 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of SPX Technologies in the third quarter worth $41,092,000. Finally, GW&K Investment Management LLC increased its holdings in shares of SPX Technologies by 41.0% during the third quarter. GW&K Investment Management LLC now owns 550,597 shares of the company’s stock valued at $102,842,000 after acquiring an additional 160,162 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

About SPX Technologies

(Get Free Report)

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.

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