SPX Corp (SPXC) PT Raised to $39.00
SPX Corp (NASDAQ:SPXC) had its price objective hoisted by UBS AG from $36.00 to $39.00 in a research report issued on Friday, www.benzinga.com reports. The brokerage currently has a “buy” rating on the stock. UBS AG’s price target points to a potential upside of 23.93% from the stock’s current price.
Other research analysts have also issued reports about the company. BidaskClub upgraded SPX Corp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Zacks Investment Research lowered SPX Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th.
SPX Corp (NASDAQ SPXC) traded up $2.81 during trading hours on Friday, hitting $31.47. The stock had a trading volume of 443,105 shares.
SPX Corp (NASDAQ:SPXC) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.08. SPX Corp had a negative return on equity of 15.86% and a negative net margin of 2.37%. The business had revenue of $348.50 million for the quarter, compared to analyst estimates of $343.12 million. During the same period last year, the company earned $0.14 EPS. The firm’s revenue was up 1.0% on a year-over-year basis.
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A number of institutional investors have recently modified their holdings of SPXC. BlackRock Inc. raised its stake in SPX Corp by 54,864.3% during the 1st quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock worth $133,635,000 after buying an additional 5,500,697 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in SPX Corp during the 1st quarter worth $25,177,000. Peregrine Capital Management LLC acquired a new stake in SPX Corp during the 3rd quarter worth $12,225,000. Vanguard Group Inc. raised its stake in SPX Corp by 12.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock worth $106,465,000 after buying an additional 455,828 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in SPX Corp by 212.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 522,559 shares of the company’s stock worth $7,761,000 after buying an additional 355,208 shares during the period.
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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