SPX Technologies (NYSE:SPXC) Upgraded by Oppenheimer to "Outperform" Rating

SPX Technologies (NYSE:SPXC - Get Free Report) was upgraded by stock analysts at Oppenheimer from a "market perform" rating to an "outperform" rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $165.00 price objective on the stock. Oppenheimer's price objective would indicate a potential upside of 13.37% from the company's previous close.

SPXC has been the topic of several other research reports. UBS Group cut their price target 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. Sidoti raised SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday. Finally, Wolfe Research started coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an "outperform" rating and a $199.00 price target for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.75.

SPX Technologies Stock Up 1.1 %

Shares of SPXC stock traded up $1.61 on Wednesday, hitting $145.55. The stock had a trading volume of 574,180 shares, compared to its average volume of 317,151. The stock's 50 day moving average is $147.15 and its 200-day moving average is $155.41. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 39.13, a P/E/G ratio of 1.33 and a beta of 1.29. SPX Technologies has a 52-week low of $112.53 and a 52-week high of $183.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

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Hedge Funds Weigh In On SPX Technologies

Large investors have recently bought and sold shares of the business. Raymond James & Associates boosted its position in shares of SPX Technologies by 30.4% during the third quarter. Raymond James & Associates now owns 57,098 shares of the company's stock worth $9,105,000 after buying an additional 13,312 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of SPX Technologies by 74.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company's stock worth $100,023,000 after purchasing an additional 267,965 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of SPX Technologies by 247.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock worth $80,000 after purchasing an additional 357 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in shares of SPX Technologies by 30.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 97,982 shares of the company's stock valued at $15,624,000 after buying an additional 22,645 shares in the last quarter. Finally, Emerald Advisers LLC lifted its holdings in shares of SPX Technologies by 40.6% during the third quarter. Emerald Advisers LLC now owns 132,051 shares of the company's stock valued at $21,057,000 after purchasing an additional 38,161 shares during the last quarter. 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.