Barclays Increases SPX Corp. Price Target to $115.00 (SPW)
Analysts at Barclays increased their target price on shares of SPX Corp. (NYSE:SPW) from $108.00 to $115.00 in a research report issued to clients and investors on Thursday, Stock Ratings Network reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective indicates a potential upside of 9.34% from the company’s current price.
SPX Corp. (NYSE:SPW) traded up 2.10% on Thursday, hitting $104.08. 321,991 shares of the company’s stock traded hands. SPX Corp. has a one year low of $67.19 and a one year high of $108.21. The stock’s 50-day moving average is $99.62 and its 200-day moving average is $88.85. The company has a market cap of $4.720 billion and a price-to-earnings ratio of 19.43.
SPX Corp. (NYSE:SPW) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.82 by $0.03. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts expect that SPX Corp. will post $5.20 EPS for the current fiscal year.
SPW has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of SPX Corp. in a research note on Thursday. They now have a $117.00 price target on the stock, up previously from $108.00. Separately, analysts at Stifel Nicolaus raised their price target on shares of SPX Corp. from $110.00 to $125.00 in a research note on Tuesday, January 21st. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of SPX Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, December 31st. They now have a $100.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $96.00.
SPX Corporation is a global, multi-industry manufacturer of specialized, engineered solutions with operations in over 35 countries and sales in over 150 countries globally.
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