SPX Hits New 12-Month High at $111.47 (SPW)
SPX (NYSE:SPW) reached a new 52-week high on Thursday , Analyst RN reports. The company traded as high as $111.47 and last traded at $111.13, with a volume of 210,666 shares traded. The stock had previously closed at $109.57.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. downgraded shares of SPX from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 8th. They now have a $112.00 price target on the stock, down previously from $115.00. They noted that the move was a valuation call. Separately, analysts at Credit Suisse raised their price target on shares of SPX from $109.00 to $110.00 in a research note on Thursday, May 1st. Finally, analysts at Morgan Stanley raised their price target on shares of SPX from $117.00 to $118.00 in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $105.40.
The stock has a 50-day moving average of $106.3 and a 200-day moving average of $102.1. The company has a market cap of $4.873 billion and a P/E ratio of 9.57.
SPX (NYSE:SPW) last announced its earnings results on Wednesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts predict that SPX will post $5.37 earnings per share 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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