SPX (NYSE:SPXC) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other research firms have also commented on SPXC. Zacks Investment Research lowered shares of SPX from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. BidaskClub raised shares of SPX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. UBS increased their target price on shares of SPX from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, TheStreet raised shares of SPX from a “d+” rating to a “c” rating in a research note on Monday, November 6th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.00.
Shares of SPX (NYSE SPXC) traded down $0.32 during trading hours on Friday, hitting $31.57. 149,566 shares of the stock were exchanged, compared to its average volume of 178,088. The firm has a market cap of $1,358.81, a price-to-earnings ratio of 17.05 and a beta of 1.72. SPX has a 12 month low of $21.97 and a 12 month high of $32.71. The company has a current ratio of 1.15, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.
In other SPX news, CAO Michael Andrew Reilly sold 3,833 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $30.59, for a total value of $117,251.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.55% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Segall Bryant & Hamill LLC increased its stake in shares of SPX by 12.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,005,441 shares of the company’s stock worth $29,500,000 after purchasing an additional 108,542 shares during the last quarter. OxFORD Asset Management LLP acquired a new position in shares of SPX during the 3rd quarter worth $202,000. Dimensional Fund Advisors LP increased its stake in shares of SPX by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 985,674 shares of the company’s stock worth $28,920,000 after purchasing an additional 18,660 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of SPX by 84.2% during the 3rd quarter. Wells Fargo & Company MN now owns 85,053 shares of the company’s stock worth $2,496,000 after buying an additional 38,867 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of SPX by 5.8% during the 3rd quarter. American International Group Inc. now owns 33,705 shares of the company’s stock worth $989,000 after buying an additional 1,835 shares during the period. Institutional investors own 87.41% of the company’s stock.
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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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