SPX Technologies (NYSE:SPXC) Shares Gap Up - What's Next?

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $136.34, but opened at $152.64. SPX Technologies shares last traded at $153.46, with a volume of 124,137 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on SPXC shares. 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 target price for the company. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research report on Wednesday. Oppenheimer raised shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research report on Wednesday. Finally, UBS Group cut their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.75.

SPX Technologies Trading Up 1.1 %

The business's 50-day moving average price is $147.15 and its two-hundred day moving average price is $155.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

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Hedge Funds Weigh In On SPX Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its position in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company's stock worth $25,000 after purchasing an additional 90 shares during the last quarter. Empowered Funds LLC acquired a new position in SPX Technologies during the fourth quarter worth approximately $27,000. Skandinaviska Enskilda Banken AB publ increased its position in SPX Technologies by 2,055.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company's stock worth $28,000 after purchasing an additional 185 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in SPX Technologies by 377.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in SPX Technologies during the fourth quarter worth approximately $57,000. 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.