SPX Technologies (NYSE:SPXC) Research Coverage Started at BMO Capital Markets

BMO Capital Markets started coverage on shares of SPX Technologies (NYSE:SPXC) in a research report released on Friday, Marketbeat Ratings reports. The firm issued an outperform rating and a $243.00 price objective on the stock.

A number of other analysts also recently issued reports on SPXC. JPMorgan Chase & Co. initiated coverage on SPX Technologies in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 target price on the stock. TD Cowen reiterated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Wells Fargo & Company lifted their price objective on SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. B. Riley Financial reaffirmed a “buy” rating and set a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Finally, Truist Financial increased their target price on shares of SPX Technologies from $216.00 to $244.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.67.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $199.75 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of 39.87, a P/E/G ratio of 1.53 and a beta of 1.30. SPX Technologies has a 52 week low of $115.00 and a 52 week high of $246.68. The firm’s 50-day simple moving average is $217.39 and its two-hundred day simple moving average is $207.56.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The company had revenue of $637.30 million during the quarter, compared to analyst estimates of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. SPX Technologies’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 EPS. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, equities analysts forecast that SPX Technologies will post 5.57 earnings per share for the current year.

Institutional Investors Weigh In On SPX Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in SPX Technologies by 8.1% during the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after acquiring an additional 2,892 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after acquiring an additional 8,854 shares during the last quarter. Millennium Management LLC boosted its stake in shares of SPX Technologies by 214.4% in the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after purchasing an additional 56,799 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after buying an additional 112 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of SPX Technologies by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after buying an additional 3,353 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

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.