SPX Co. (SPXC) Given Average Recommendation of “Buy” by Analysts
Shares of SPX Co. (NASDAQ:SPXC) have been assigned an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokerages have set a 12-month consensus price target of $19.83 for the company and are expecting that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also assigned SPX an industry rank of 51 out of 265 based on the ratings given to related companies.
A number of analysts have commented on SPXC shares. Credit Suisse Group AG raised shares of SPX to a “buy” rating in a research report on Saturday, July 9th. Zacks Investment Research cut shares of SPX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd.
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In other news, insider Michael Andrew Reilly sold 2,258 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $19.19, for a total transaction of $43,331.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several institutional investors have recently added to or reduced their stakes in SPXC. Legal & General Group Plc boosted its position in SPX by 152.8% in the second quarter. Legal & General Group Plc now owns 7,454 shares of the company’s stock worth $108,000 after buying an additional 4,505 shares during the period. Mason Street Advisors LLC bought a new position in SPX during the second quarter worth about $121,000. Nisa Investment Advisors LLC boosted its position in shares of SPX by 13.3% in the third quarter. Nisa Investment Advisors LLC now owns 8,500 shares of the company’s stock valued at $171,000 after buying an additional 1,000 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of SPX during the second quarter valued at $225,000. Finally, KCG Holdings Inc. acquired a new position in shares of SPX during the second quarter valued at $237,000.
SPX (NASDAQ:SPXC) traded up 1.16% during mid-day trading on Wednesday, hitting $19.99. The company had a trading volume of 50,723 shares. The company’s 50 day moving average price is $19.81 and its 200-day moving average price is $17.07. The firm’s market capitalization is $834.72 million. SPX has a 12-month low of $7.62 and a 12-month high of $20.55.
SPX (NASDAQ:SPXC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. The firm had revenue of $412.90 million for the quarter, compared to the consensus estimate of $413.55 million. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. On average, analysts forecast that SPX will post $1.19 EPS for the current fiscal year.
SPX Company Profile
SPX Corporation is a diversified, global supplier of infrastructure equipment. The Company operates through three segments: heating, ventilation and air conditioning (HVAC); Detection and Measurement, and Power. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.
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