SPX Technologies, Inc. (NYSE:SPXC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $174.75.

SPXC has been the subject of several recent research reports. Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research report on Wednesday, February 26th. UBS Group lowered their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th.

SPX Technologies Trading Down 1.7 %

Shares of NYSE:SPXC traded down $2.21 on Thursday, reaching $129.85. 79,688 shares of the company traded hands, compared to its average volume of 277,594. The stock has a market capitalization of $6.07 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The business's 50-day simple moving average is $138.37 and its 200 day simple moving average is $150.73. 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 52 week low of $115.00 and a 52 week high of $183.83.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP raised its holdings in SPX Technologies by 123.3% in the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after purchasing an additional 90 shares in the last quarter. Empowered Funds LLC bought a new position in shares of SPX Technologies in the 4th quarter worth about $27,000. NBC Securities Inc. purchased a new position in SPX Technologies during the 1st quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ boosted its stake in SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after acquiring an additional 185 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 92.82% of the company's stock.

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.