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

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

A number of research analysts recently issued reports on SPXC shares. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Wells Fargo & Company lifted their price objective on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Truist Financial lifted their price objective on SPX Technologies from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. lifted their price objective on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th.

SPX Technologies Stock Performance

SPX Technologies stock opened at $238.57 on Tuesday. The stock has a 50-day simple moving average of $221.00 and a 200 day simple moving average of $216.16. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies has a 12-month low of $165.15 and a 12-month high of $251.08. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 46.69, a P/E/G ratio of 1.70 and a beta of 1.28.

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

Institutional Trading of SPX Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in SPX Technologies by 23.2% in the first quarter. Pacer Advisors Inc. now owns 13,268 shares of the company’s stock worth $2,653,000 after purchasing an additional 2,498 shares during the period. Parallel Advisors LLC increased its position in SPX Technologies by 38.1% in the first quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the period. Cim Investment Management Inc. increased its position in SPX Technologies by 22.4% in the first quarter. Cim Investment Management Inc. now owns 1,277 shares of the company’s stock worth $255,000 after purchasing an additional 234 shares during the period. Bank of America Corp DE increased its position in SPX Technologies by 13.0% in the first quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock worth $63,358,000 after purchasing an additional 36,340 shares during the period. Finally, Janus Henderson Group PLC increased its position in SPX Technologies by 5.9% in the first quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock worth $153,011,000 after purchasing an additional 42,921 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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.