UBS Group Cuts SPX Technologies (NYSE:SPXC) Price Target to $160.00

SPX Technologies (NYSE:SPXC - Get Free Report) had its target price cut by equities researchers at UBS Group from $164.00 to $160.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 12.73% from the company's previous close.

Several other equities analysts also recently commented on the stock. Wolfe Research began 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 on the stock. Sidoti cut shares of SPX Technologies from a "buy" rating to a "neutral" rating and cut their price target for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $168.50.

SPX Technologies Stock Down 4.9 %

NYSE:SPXC traded down $7.27 during trading hours on Tuesday, hitting $141.93. The stock had a trading volume of 393,924 shares, compared to its average volume of 270,506. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. SPX Technologies has a 1-year low of $95.00 and a 1-year high of $183.83. The business has a 50 day simple moving average of $159.49 and a two-hundred day simple moving average of $155.32. The company has a market cap of $6.58 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million for the quarter, compared to analysts' expectations of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.06 earnings per share. Analysts predict that SPX Technologies will post 5.56 EPS for the current year.

Hedge Funds Weigh In On SPX Technologies

A number of hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in shares of SPX Technologies during the 2nd quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies in the 3rd quarter valued at $28,000. ST Germain D J Co. Inc. purchased a new stake in shares of SPX Technologies in the 3rd quarter valued at $44,000. Farther Finance Advisors LLC boosted its position in SPX Technologies by 247.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock valued at $80,000 after buying an additional 357 shares during the period. Finally, Signaturefd LLC boosted its position in SPX Technologies by 65.2% during the 3rd quarter. Signaturefd LLC now owns 542 shares of the company's stock valued at $86,000 after buying an additional 214 shares during the period. 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.