SPX Technologies (NYSE:SPXC) Upgraded at Truist Financial

Truist Financial upgraded shares of SPX Technologies (NYSE:SPXC) from a hold rating to a buy rating in a research report released on Friday, MarketBeat.com reports. The brokerage currently has $243.00 price objective on the stock, down from their previous price objective of $244.00.

A number of other brokerages have also commented on SPXC. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. Oppenheimer boosted their price target on shares of SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. B. Riley Financial reiterated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. BMO Capital Markets started coverage on shares of SPX Technologies in a report on Friday. They issued an “outperform” rating and a $243.00 target price on the stock. Finally, Wells Fargo & Company upped their price objective on shares of SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $249.67.

SPX Technologies Stock Performance

Shares of NYSE SPXC opened at $199.75 on Friday. The company has a market cap of $9.96 billion, a P/E ratio of 39.87, a P/E/G ratio of 1.53 and a beta of 1.30. SPX Technologies has a 12 month low of $115.00 and a 12 month high of $246.68. The business’s 50 day moving average is $217.39 and its two-hundred day moving average is $207.56. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 0.22.

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

Institutional Trading of SPX Technologies

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

About SPX Technologies

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.