SPX Technologies (NYSE:SPXC) Rating Increased to Buy at Sidoti

Sidoti upgraded shares of SPX Technologies (NYSE:SPXC - Free Report) from a neutral rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports.

A number of other research analysts have also commented on the stock. UBS Group dropped their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Wolfe Research started coverage on SPX Technologies in a research note 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $174.75.

SPX Technologies Stock Performance

Shares of SPXC stock traded up $1.61 during trading hours on Wednesday, hitting $145.55. The stock had a trading volume of 574,180 shares, compared to its average volume of 317,151. 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 capitalization of $6.75 billion, a PE ratio of 39.13, a PEG ratio of 1.33 and a beta of 1.29. The stock's 50 day moving average is $147.15 and its 200 day moving average is $155.41. SPX Technologies has a twelve month low of $112.53 and a twelve month high of $183.83.

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Institutional Trading of SPX Technologies

A number of hedge funds have recently bought and sold shares of SPXC. Mutual of America Capital Management LLC boosted its holdings in shares of SPX Technologies by 212.5% during the third 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 during the last quarter. Barclays PLC lifted its position in SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company's stock worth $13,485,000 after buying an additional 63,373 shares during the period. Geode Capital Management LLC boosted its stake in SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company's stock worth $164,888,000 after buying an additional 8,916 shares during the last quarter. Nordea Investment Management AB boosted its stake in SPX Technologies by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company's stock worth $53,203,000 after buying an additional 17,324 shares during the last quarter. Finally, Corsair Capital Management L.P. grew its holdings in SPX Technologies by 80,185.2% in the 3rd quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company's stock valued at $18,179,000 after buying an additional 113,863 shares during the period. 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.