SPX (SPXC) Stock Rating Lowered by ValuEngine

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.

SPX (NYSE:SPXC) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. SPX had a negative net margin of 3.86% and a positive return on equity of 37.49%. The company had revenue of $348.50 million during the quarter, compared to analyst estimates of $343.12 million. During the same period in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. equities analysts forecast that SPX will post 1.8 earnings per share for the current fiscal year.

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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