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

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $174.75.

Several equities analysts have weighed in on the company. Wolfe Research began coverage on SPX Technologies in a research note on Monday, November 25th. They set an "outperform" rating and a $199.00 price objective on the stock. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, UBS Group cut their target price on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th.

SPX Technologies Stock Up 3.3 %

Shares of SPXC traded up $4.47 on Friday, reaching $138.15. The company's stock had a trading volume of 119,272 shares, compared to its average volume of 306,231. The stock has a market capitalization of $6.41 billion, a PE ratio of 37.14, a PEG ratio of 1.33 and a beta of 1.26. 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 twelve month low of $116.05 and a twelve month high of $183.83. The firm has a fifty day moving average of $144.64 and a 200-day moving average of $153.75.

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Institutional Investors Weigh In On SPX Technologies

Several large investors have recently modified their holdings of the stock. Assetmark Inc. grew its holdings in SPX Technologies by 4.7% during the third quarter. Assetmark Inc. now owns 1,745 shares of the company's stock valued at $278,000 after purchasing an additional 78 shares during the period. Crossmark Global Holdings Inc. increased its holdings in SPX Technologies by 13.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,655 shares of the company's stock worth $583,000 after acquiring an additional 438 shares during the last quarter. Victory Capital Management Inc. raised its stake in SPX Technologies by 196.9% in the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company's stock valued at $34,921,000 after acquiring an additional 145,225 shares during the period. KBC Group NV lifted its holdings in SPX Technologies by 14.3% during the third quarter. KBC Group NV now owns 1,295 shares of the company's stock valued at $207,000 after purchasing an additional 162 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in SPX Technologies during the third quarter worth about $209,000. 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.