William Blair Boosts Earnings Estimates for SPX Technologies

SPX Technologies, Inc. (NYSE:SPXC - Free Report) - Equities research analysts at William Blair boosted their FY2024 EPS estimates for shares of SPX Technologies in a research report issued to clients and investors on Thursday, October 31st. William Blair analyst R. Sparenblek now expects that the company will post earnings of $5.60 per share for the year, up from their prior estimate of $5.55. The consensus estimate for SPX Technologies' current full-year earnings is $5.54 per share. William Blair also issued estimates for SPX Technologies' Q4 2024 earnings at $1.53 EPS and FY2025 earnings at $6.40 EPS.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 20.17%. The business had revenue of $483.70 million during the quarter, compared to analyst estimates of $501.02 million. During the same period in the previous year, the business earned $1.06 EPS. SPX Technologies's revenue was up 7.8% compared to the same quarter last year.

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

SPX Technologies Stock Performance

SPX Technologies stock traded up $1.71 during mid-day trading on Friday, reaching $145.20. The company's stock had a trading volume of 243,744 shares, compared to its average volume of 249,060. SPX Technologies has a 12-month low of $77.90 and a 12-month high of $173.30. The company has a market capitalization of $6.72 billion, a P/E ratio of 38.38, a PEG ratio of 1.59 and a beta of 1.21. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28. The firm's fifty day moving average price is $158.01 and its two-hundred day moving average price is $146.29.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPXC. Emerald Advisers LLC lifted its holdings in shares of SPX Technologies by 40.6% during the 3rd quarter. Emerald Advisers LLC now owns 132,051 shares of the company's stock worth $21,057,000 after acquiring an additional 38,161 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of SPX Technologies by 30.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 97,982 shares of the company's stock worth $15,624,000 after acquiring an additional 22,645 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of SPX Technologies by 247.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock worth $80,000 after acquiring an additional 357 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of SPX Technologies by 74.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company's stock worth $100,023,000 after acquiring an additional 267,965 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of SPX Technologies by 132.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 120,904 shares of the company's stock worth $19,279,000 after acquiring an additional 68,798 shares during the last quarter. 92.82% of the stock is 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.