SPX Technologies (NYSE:SPXC) Stock Price Down 4.8% - Time to Sell?

Shares of SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) dropped 4.8% during mid-day trading on Friday . The stock traded as low as $158.91 and last traded at $161.77. Approximately 39,252 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 248,147 shares. The stock had previously closed at $169.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wolfe Research started coverage on shares of SPX Technologies in a research report on Monday, November 25th. They issued an "outperform" rating and a $199.00 target price for the company. Sidoti cut SPX Technologies from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $187.00 to $175.00 in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $164.00.

SPX Technologies Stock Down 6.2 %

The company's 50-day simple moving average is $164.94 and its two-hundred day simple moving average is $153.53. The firm has a market capitalization of $7.39 billion, a P/E ratio of 42.86, a P/E/G ratio of 1.76 and a beta of 1.26. 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 (NYSE:SPXC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company had revenue of $483.70 million for the quarter, compared to analysts' expectations of $501.02 million. During the same period last year, the firm earned $1.06 EPS. SPX Technologies's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts expect that SPX Technologies, Inc. will post 5.56 earnings per share for the current year.

Hedge Funds Weigh In On SPX Technologies

A number of hedge funds have recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in SPX Technologies by 195.2% in the 2nd quarter. American Century Companies Inc. now owns 14,492 shares of the company's stock worth $2,060,000 after buying an additional 9,582 shares during the period. Victory Capital Management Inc. boosted its stake in shares of SPX Technologies by 15.7% in the second quarter. Victory Capital Management Inc. now owns 73,768 shares of the company's stock worth $10,485,000 after acquiring an additional 10,010 shares during the period. Diversified Trust Co purchased a new stake in shares of SPX Technologies during the second quarter worth about $798,000. Dana Investment Advisors Inc. bought a new stake in SPX Technologies during the 2nd quarter valued at approximately $855,000. Finally, Mutual of America Capital Management LLC lifted its holdings in SPX Technologies by 212.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company's stock worth $3,786,000 after purchasing an additional 16,145 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

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.