SPX Technologies, Inc. (NYSE:SPXC) Receives $174.75 Consensus Price Target from Analysts

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) has earned an average rating of "Moderate Buy" from the five ratings firms that are currently covering the firm, MarketBeat Ratings 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 target price among analysts that have updated their coverage on the stock in the last year is $174.75.

A number of research firms recently commented on SPXC. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 26th. Wolfe Research began coverage on SPX Technologies in a research note on Monday, November 25th. They issued an "outperform" rating and a $199.00 price objective for the company. 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 note on Wednesday, February 26th. Finally, UBS Group cut their target price on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th.

SPX Technologies Stock Up 0.9 %

NYSE SPXC traded up $1.16 on Friday, reaching $135.42. 60,663 shares of the stock traded hands, compared to its average volume of 253,768. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The company has a fifty day moving average price of $145.06 and a 200-day moving average price of $154.12. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 1.33 and a beta of 1.26. SPX Technologies has a 12 month low of $116.05 and a 12 month high of $183.83.

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Institutional Investors Weigh In On SPX Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in SPX Technologies during the fourth quarter worth $93,038,000. JPMorgan Chase & Co. lifted its holdings in shares of SPX Technologies by 666.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company's stock worth $94,169,000 after acquiring an additional 513,526 shares during the last quarter. Raymond James Financial Inc. acquired a new position in SPX Technologies during the fourth quarter worth $32,337,000. Janus Henderson Group PLC lifted its stake in SPX Technologies by 45.3% during the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company's stock worth $111,100,000 after purchasing an additional 217,316 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in SPX Technologies by 54.5% during the 4th quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after acquiring an additional 195,153 shares in the last quarter. Institutional investors and hedge funds 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.