SPX Technologies, Inc. (NYSE:SPXC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of SPX Technologies, Inc. (NYSE:SPXC) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $249.4444.

Several equities analysts have commented on SPXC shares. Wells Fargo & Company increased their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Truist Financial increased their price target on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Monday, May 4th. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th.

SPX Technologies Stock Up 1.0%

Shares of SPX Technologies stock opened at $236.36 on Friday. SPX Technologies has a 52-week low of $152.79 and a 52-week high of $246.68. The company has a 50 day moving average of $211.03 and a 200 day moving average of $213.00. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $11.83 billion, a P/E ratio of 46.25, a P/E/G ratio of 1.72 and a beta of 1.28.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. The company had revenue of $566.80 million for the quarter, compared to analyst estimates of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, research analysts forecast that SPX Technologies will post 7.98 EPS for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Several hedge funds have recently added to or reduced their stakes in SPXC. Royal Bank of Canada increased its stake in SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock valued at $4,942,000 after purchasing an additional 2,892 shares during the last quarter. AQR Capital Management LLC grew its position in shares of SPX Technologies by 74.5% during the first 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 increased its holdings 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 acquiring an additional 56,799 shares during the period. NewEdge Advisors LLC increased its holdings in shares of SPX Technologies by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after acquiring an additional 112 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of SPX Technologies by 1.8% in the 1st 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 acquiring an additional 3,353 shares during the period. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

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.