SPX Technologies, Inc. (NYSE:SPXC) Given Consensus Recommendation of “Moderate Buy” by Analysts

SPX Technologies, Inc. (NYSE:SPXC) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $214.1429.

SPXC has been the subject of several research analyst reports. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. B. Riley reissued a “buy” rating and issued a $244.00 price target (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Truist Financial boosted their target price on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, Wells Fargo & Company assumed coverage on shares of SPX Technologies in a report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 target price for the company.

Insider Buying and Selling at SPX Technologies

In related news, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the transaction, the insider directly owned 64,266 shares in the company, valued at $13,243,294.62. The trade was a 37.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider J Randall Data sold 12,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the sale, the insider directly owned 38,020 shares in the company, valued at $8,188,367.40. This trade represents a 23.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.32% of the company’s stock.

Institutional Trading of SPX Technologies

A number of hedge funds have recently bought and sold shares of SPXC. Hazlett Burt & Watson Inc. purchased a new position in shares of SPX Technologies in the third quarter worth approximately $28,000. Cullen Frost Bankers Inc. grew its position in SPX Technologies by 52.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after purchasing an additional 54 shares in the last quarter. Optiver Holding B.V. raised its stake in SPX Technologies by 110.5% during the 3rd quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock valued at $30,000 after purchasing an additional 84 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in SPX Technologies during the 2nd quarter valued at $31,000. Finally, Financial Consulate Inc. purchased a new stake in shares of SPX Technologies in the third quarter valued at $34,000. 92.82% of the stock is owned by hedge funds and other institutional investors.

SPX Technologies Stock Performance

SPXC opened at $213.08 on Friday. The business has a 50 day moving average price of $210.94 and a two-hundred day moving average price of $199.62. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 45.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.32. SPX Technologies has a 1-year low of $115.00 and a 1-year high of $233.71.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.