SPX Technologies (NYSE:SPXC) Reaches New 1-Year High - Time to Buy?

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $172.75 and last traded at $172.61, with a volume of 29934 shares. The stock had previously closed at $169.16.

Analyst Upgrades and Downgrades

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

SPX Technologies Trading Up 1.5 %

The stock's fifty day simple moving average is $155.73 and its 200 day simple moving average is $143.39. The firm has a market capitalization of $7.95 billion, a PE ratio of 77.39, a PEG ratio of 1.65 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40.

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

Hedge Funds Weigh In On SPX Technologies

A number of hedge funds have recently modified their holdings of SPXC. Creative Planning boosted its stake in shares of SPX Technologies by 17.6% in the third quarter. Creative Planning now owns 15,900 shares of the company's stock worth $2,535,000 after acquiring an additional 2,374 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in SPX Technologies by 2.4% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 18,260 shares of the company's stock worth $2,912,000 after purchasing an additional 421 shares in the last quarter. Private Advisory Group LLC bought a new position in SPX Technologies in the 3rd quarter worth approximately $819,000. Gunderson Capital Management Inc. bought a new position in SPX Technologies in the 3rd quarter worth approximately $3,281,000. Finally, Diversified Trust Co grew its holdings in SPX Technologies by 3.9% during the 3rd quarter. Diversified Trust Co now owns 5,834 shares of the company's stock valued at $930,000 after buying an additional 220 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Company Profile

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.