SPX Technologies (NYSE:SPXC) Reaches New 1-Year Low - What's Next?

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report)'s share price hit a new 52-week low on Monday . The stock traded as low as $116.02 and last traded at $118.00, with a volume of 290 shares trading hands. The stock had previously closed at $122.34.

Analyst Upgrades and Downgrades

SPXC has been the topic of a number of analyst reports. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research note on Wednesday, February 26th. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, UBS Group cut their price target on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $174.75.

SPX Technologies Price Performance

The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 1.33 and a beta of 1.22. 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 50 day moving average price of $138.37 and a 200 day moving average price of $150.78.

Institutional Trading of SPX Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPXC. HighTower Advisors LLC boosted its position in shares of SPX Technologies by 24.2% in the 3rd quarter. HighTower Advisors LLC now owns 6,651 shares of the company's stock worth $1,058,000 after purchasing an additional 1,295 shares during the last quarter. XTX Topco Ltd bought a new position in SPX Technologies during the 3rd quarter worth about $213,000. Public Employees Retirement System of Ohio grew its holdings in shares of SPX Technologies by 471.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,537 shares of the company's stock worth $245,000 after buying an additional 1,268 shares in the last quarter. Barclays PLC raised its holdings in shares of SPX Technologies by 299.0% in the third quarter. Barclays PLC now owns 84,567 shares of the company's stock valued at $13,485,000 after purchasing an additional 63,373 shares during the last quarter. Finally, M&T Bank Corp increased its stake in SPX Technologies by 0.4% in the 3rd quarter. M&T Bank Corp now owns 37,541 shares of the company's stock valued at $5,986,000 after buying an additional 160 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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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.