SPX Co. (NASDAQ:SPXC) Downgraded by Zacks Investment Research
SPX Co. (NASDAQ:SPXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “SPX Corporation is a provider of technical products and systems, industrial products and services, service solutions and vehicle components. These products are primarily sold to customers throughout North America and Europe. As a global multi-industry company, SPX is focused on profitably growing businesses that have scale and growth potential. These businesses are grouped into four different segments: Technical Products and Systems, Industrial Products and Services, Flow Technology and Service Solutions. “
Shares of SPX (NASDAQ:SPXC) traded down 0.39% during midday trading on Thursday, hitting $25.28. 51,288 shares of the stock were exchanged. The firm’s market cap is $1.07 billion. The firm has a 50 day moving average of $25.46 and a 200 day moving average of $24.78. SPX has a 12-month low of $14.05 and a 12-month high of $28.93.
SPX (NASDAQ:SPXC) last posted its earnings results on Thursday, May 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.11. SPX had a net margin of 3.02% and a return on equity of 20.52%. The business had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $320.94 million. During the same period in the previous year, the company posted $0.09 earnings per share. Equities analysts forecast that SPX will post $1.69 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Architects Inc boosted its position in SPX by 1.1% in the first quarter. Financial Architects Inc now owns 11,028 shares of the company’s stock worth $267,000 after buying an additional 123 shares during the last quarter. State of Alaska Department of Revenue boosted its position in SPX by 3.1% in the first quarter. State of Alaska Department of Revenue now owns 4,660 shares of the company’s stock worth $113,000 after buying an additional 140 shares during the last quarter. Arizona State Retirement System boosted its position in SPX by 1.9% in the first quarter. Arizona State Retirement System now owns 22,000 shares of the company’s stock worth $534,000 after buying an additional 400 shares during the last quarter. Mason Street Advisors LLC boosted its position in SPX by 7.9% in the first quarter. Mason Street Advisors LLC now owns 9,874 shares of the company’s stock worth $239,000 after buying an additional 721 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in SPX by 2.3% in the first quarter. Russell Investments Group Ltd. now owns 34,176 shares of the company’s stock worth $829,000 after buying an additional 784 shares during the last quarter.
SPX Company Profile
SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.
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