SPX Corp. Stock Rating Reaffirmed by Morgan Stanley (SPW)
SPX Corp. (NYSE:SPW)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a report released on Thursday, Analyst Ratings News reports. They currently have a $117.00 price objective on the stock, up from their previous price objective of $108.00. Morgan Stanley’s target price would indicate a potential upside of 11.24% from the company’s current price.
The analysts wrote, “After years of inaction, we had some issues with the ‘raise number’ button in our model. But with a bit of grease, we raise our FY14e by 4% to $5.37 and our PT ratchets up from $108 to $117. However, our base case SotP is higher suggesting scope for upside on further portfolio actions. Reiterate OW.”
A number of other analysts have also recently weighed in on SPW. Analysts at Barclays initiated coverage on shares of SPX Corp. in a research note on Tuesday, January 21st. They set an “overweight” rating and a $108.00 price target on the stock. 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. SPX Corp. presently has a consensus rating of “Hold” and a consensus target price of $95.50.
SPX Corp. (NYSE:SPW) traded up 4.11% on Thursday, hitting $102.96. 201,340 shares of the company’s stock traded hands. SPX Corp. has a 52 week low of $67.19 and a 52 week high of $105.86. The stock’s 50-day moving average is $99.51 and its 200-day moving average is $88.7. The company has a market cap of $4.670 billion and a price-to-earnings ratio of 18.85.
SPX Corp. (NYSE:SPW) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.85 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.57 earnings per share. SPX Corp.’s revenue was down 3.4% compared to the same quarter last year. Analysts expect that SPX Corp. will post $3.96 EPS for the current fiscal year.
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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