SPX Technologies (NYSE:SPXC) Downgraded to "Neutral" Rating by Sidoti

Sidoti downgraded shares of SPX Technologies (NYSE:SPXC - Free Report) from a buy rating to a neutral rating in a report published on Friday, MarketBeat.com reports. Sidoti currently has $175.00 target price on the stock, down from their previous target price of $187.00.

Separately, Wolfe Research assumed coverage on SPX Technologies in a research note on Monday, November 25th. They issued an "outperform" rating and a $199.00 target price on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, SPX Technologies has a consensus rating of "Hold" and a consensus price target of $164.00.

SPX Technologies Trading Down 6.2 %

Shares of SPXC stock traded down $10.46 during trading hours on Friday, reaching $159.43. 376,449 shares of the stock traded hands, compared to its average volume of 219,010. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.39 billion, a PE ratio of 42.86, a PEG ratio of 1.76 and a beta of 1.26. SPX Technologies has a 1-year low of $87.08 and a 1-year high of $183.83. The business has a fifty day moving average price of $164.94 and a 200 day moving average price of $153.46.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. SPX Technologies's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 earnings per share. On average, equities research analysts forecast that SPX Technologies will post 5.56 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Crewe Advisors LLC acquired a new stake in shares of SPX Technologies during the 2nd quarter valued at about $28,000. Canada Pension Plan Investment Board bought a new position in SPX Technologies during the second quarter worth about $28,000. V Square Quantitative Management LLC bought a new position in SPX Technologies during the third quarter worth about $28,000. UMB Bank n.a. boosted its holdings in SPX Technologies by 965.0% during the second quarter. UMB Bank n.a. now owns 213 shares of the company's stock valued at $30,000 after purchasing an additional 193 shares in the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in shares of SPX Technologies in the 3rd quarter valued at approximately $44,000. 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.