SPX Technologies, Inc. (NYSE:SPXC) Receives $164.00 Consensus Price Target from Brokerages

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) has been assigned a consensus rating of "Hold" from the five analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $164.00.

A number of research firms recently commented on SPXC. Sidoti downgraded SPX Technologies from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $187.00 to $175.00 in a research report on Friday, December 6th. Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They set an "outperform" rating and a $199.00 price objective on the stock.

SPX Technologies Price Performance

SPXC traded up $2.32 on Tuesday, hitting $145.52. 335,750 shares of the company's stock traded hands, compared to its average volume of 251,128. The company's 50 day simple moving average is $160.58 and its 200-day simple moving average is $155.04. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies has a one year low of $95.00 and a one year high of $183.83. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 39.12, a P/E/G ratio of 1.55 and a beta of 1.26.

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 (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million for the quarter, compared to analysts' expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. As a group, research analysts anticipate that SPX Technologies will post 5.56 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

Institutional investors have recently modified their holdings of the stock. Assetmark Inc. raised its holdings in SPX Technologies by 4.7% during the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company's stock valued at $278,000 after buying an additional 78 shares during the period. Evergreen Capital Management LLC boosted its holdings in SPX Technologies by 4.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company's stock valued at $503,000 after acquiring an additional 146 shares during the period. PNC Financial Services Group Inc. grew its position in SPX Technologies by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company's stock valued at $1,632,000 after acquiring an additional 158 shares during the last quarter. M&T Bank Corp increased its stake in SPX Technologies by 0.4% in the third quarter. M&T Bank Corp now owns 37,541 shares of the company's stock worth $5,986,000 after purchasing an additional 160 shares during the period. Finally, KBC Group NV lifted its position in shares of SPX Technologies by 14.3% during the third quarter. KBC Group NV now owns 1,295 shares of the company's stock worth $207,000 after purchasing an additional 162 shares during the last quarter. 92.82% of the stock is owned by institutional investors.

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.