SPX Receives “Overweight” Rating from Morgan Stanley (SPW)
SPX (NYSE:SPW)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a research report issued to clients and investors on Monday. They currently have a $119.00 price target on the stock, down from their previous price target of $121.00. Morgan Stanley’s price objective points to a potential upside of 19.37% from the company’s current price.
A number of other analysts have also recently weighed in on SPW. Analysts at Wedbush raised their price target on shares of SPX from $107.00 to $110.00 in a research note on Friday, August 1st. Analysts at Jefferies Group initiated coverage on shares of SPX in a research note on Wednesday, July 9th. They set a “hold” rating and a $115.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. SPX has a consensus rating of “Hold” and a consensus price target of $108.27.
SPX (NYSE:SPW) traded up 1.75% on Monday, hitting $101.43. 58,645 shares of the company’s stock traded hands. SPX has a one year low of $73.15 and a one year high of $111.47. The stock’s 50-day moving average is $105. and its 200-day moving average is $103.1. The company has a market cap of $4.317 billion and a price-to-earnings ratio of 8.52.
SPX (NYSE:SPW) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts predict that SPX will post $5.27 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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