SPX Technologies, Inc. (NYSE:SPXC) Receives Average Rating 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 analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to 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 upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Wolfe Research began coverage on shares of SPX Technologies in a research report on Monday, November 25th. They issued an "outperform" rating and a $199.00 price target for the company. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. Finally, 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 report on Tuesday, January 7th.

SPX Technologies Stock Down 0.8 %

Shares of SPXC traded down $1.11 during midday trading on Friday, hitting $134.31. The stock had a trading volume of 5,045 shares, compared to its average volume of 253,398. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company has a 50 day simple moving average of $144.80 and a two-hundred day simple moving average of $153.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies has a twelve month low of $116.05 and a twelve month high of $183.83.

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Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SPXC. Vanguard Group Inc. grew its stake in shares of SPX Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock worth $732,153,000 after buying an additional 89,770 shares during the last quarter. State Street Corp grew its stake in shares of SPX Technologies by 1.3% during the third quarter. State Street Corp now owns 1,729,989 shares of the company's stock worth $275,864,000 after buying an additional 22,177 shares during the last quarter. Invesco Ltd. grew its stake in shares of SPX Technologies by 3.4% during the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock worth $167,462,000 after buying an additional 37,468 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of SPX Technologies by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company's stock worth $164,888,000 after buying an additional 8,916 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in shares of SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock worth $114,640,000 after buying an additional 160,535 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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.