SPX Corp (SPXC) Given Average Recommendation of “Hold” by Brokerages
SPX Corp (NASDAQ:SPXC) has received an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also assigned SPX Corp an industry rank of 175 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded SPX Corp from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, August 8th.
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Shares of SPX Corp (SPXC) opened at 24.74 on Friday. The company’s market capitalization is $1.05 billion. The firm has a 50 day moving average price of $25.62 and a 200 day moving average price of $25.30. SPX Corp has a 52 week low of $15.49 and a 52 week high of $29.25.
SPX Corp (NASDAQ:SPXC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.09. The firm had revenue of $349.70 million for the quarter, compared to the consensus estimate of $354.84 million. SPX Corp had a negative return on equity of 15.86% and a negative net margin of 2.37%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. Equities analysts forecast that SPX Corp will post $1.75 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP boosted its stake in shares of SPX Corp by 24.3% in the 2nd quarter. WFG Advisors LP now owns 83,933 shares of the company’s stock worth $2,112,000 after buying an additional 16,398 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of SPX Corp in the 2nd quarter worth $231,000. The Manufacturers Life Insurance Company boosted its stake in shares of SPX Corp by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,098 shares of the company’s stock worth $833,000 after buying an additional 1,517 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of SPX Corp by 47.7% in the 2nd quarter. Macquarie Group Ltd. now owns 53,728 shares of the company’s stock worth $1,352,000 after buying an additional 17,357 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its stake in shares of SPX Corp by 40.7% in the 2nd quarter. Flinton Capital Management LLC now owns 4,114 shares of the company’s stock worth $103,000 after buying an additional 1,190 shares during the last quarter.
SPX Corp 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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