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

SPX Technologies, Inc. (NYSE:SPXC) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $174.75.

Several equities analysts have recently issued reports on the company. Wolfe Research started coverage on SPX Technologies in a research report on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target for the company. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a report on Wednesday, February 26th. Finally, UBS Group decreased their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in SPX Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company’s stock valued at $732,153,000 after acquiring an additional 89,770 shares during the period. State Street Corp lifted its stake in shares of SPX Technologies by 1.3% in the 3rd quarter. State Street Corp now owns 1,729,989 shares of the company’s stock worth $275,864,000 after purchasing an additional 22,177 shares during the period. Invesco Ltd. lifted its stake in shares of SPX Technologies by 3.4% in the 4th quarter. Invesco Ltd. now owns 1,150,781 shares of the company’s stock worth $167,462,000 after purchasing an additional 37,468 shares during the period. Geode Capital Management LLC boosted its holdings in shares of SPX Technologies by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock worth $164,888,000 after buying an additional 8,916 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock valued at $114,640,000 after buying an additional 160,535 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Down 1.5 %

Shares of NYSE:SPXC opened at $135.71 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $144.39 and a two-hundred day simple moving average of $153.51. SPX Technologies has a 12-month low of $116.05 and a 12-month high of $183.83. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 1.33 and a beta of 1.26.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.