SPX Technologies (NYSE:SPXC) Sets New 1-Year High - Should You Buy?

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $166.48 and last traded at $165.40, with a volume of 43161 shares changing hands. The stock had previously closed at $162.20.

Wall Street Analyst Weigh In

Separately, Oppenheimer downgraded SPX Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, July 18th.

SPX Technologies Stock Up 2.2 %

The business has a 50 day simple moving average of $153.43 and a 200 day simple moving average of $141.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The stock has a market cap of $7.67 billion, a PE ratio of 80.84, a P/E/G ratio of 1.63 and a beta of 1.21.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.25 by $0.17. The company had revenue of $501.30 million during the quarter, compared to the consensus estimate of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. The company's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, equities research analysts forecast that SPX Technologies, Inc. will post 5.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP grew its stake in shares of SPX Technologies by 22.6% in the fourth quarter. First Trust Advisors LP now owns 265,396 shares of the company's stock worth $26,808,000 after acquiring an additional 48,860 shares during the last quarter. Robeco Schweiz AG increased its holdings in shares of SPX Technologies by 43.9% during the 4th quarter. Robeco Schweiz AG now owns 194,098 shares of the company's stock worth $19,606,000 after purchasing an additional 59,243 shares during the period. Granahan Investment Management LLC raised its position in shares of SPX Technologies by 0.8% during the fourth quarter. Granahan Investment Management LLC now owns 147,953 shares of the company's stock valued at $14,945,000 after buying an additional 1,246 shares during the last quarter. Cim LLC acquired a new position in shares of SPX Technologies during the fourth quarter valued at about $320,000. Finally, First Bank & Trust bought a new stake in shares of SPX Technologies in the first quarter valued at about $256,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.