SPX Technologies (NYSE:SPXC) Now Covered by Analysts at Wolfe Research

Wolfe Research started coverage on shares of SPX Technologies (NYSE:SPXC - Free Report) in a research note released on Monday morning, Marketbeat reports. The firm issued an outperform rating and a $199.00 price target on the stock.

SPX Technologies Price Performance

SPXC traded up $6.54 on Monday, reaching $182.55. The stock had a trading volume of 145,610 shares, compared to its average volume of 248,630. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 48.13, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22. SPX Technologies has a fifty-two week low of $83.98 and a fifty-two week high of $183.83. The firm has a 50-day moving average of $161.84 and a 200-day moving average of $151.25.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.01. The company had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 earnings per share. As a group, sell-side analysts anticipate that SPX Technologies will post 5.56 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SPXC. Assetmark Inc. lifted its stake 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 acquiring an additional 78 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of SPX Technologies by 4.3% in the second 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 in the last quarter. PNC Financial Services Group Inc. increased its position in shares of SPX Technologies by 1.6% during the third 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 lifted its holdings in SPX Technologies by 0.4% during the third quarter. M&T Bank Corp now owns 37,541 shares of the company's stock worth $5,986,000 after acquiring an additional 160 shares during the period. Finally, KBC Group NV boosted its position in SPX Technologies by 14.3% in 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. Institutional investors own 92.82% of the company's stock.

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.