UBS Group Boosts SPX Technologies (NYSE:SPXC) Price Target to $126.00

SPX Technologies (NYSE:SPXC) had its target price upped by UBS Group from $90.00 to $126.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently weighed in on SPXC. Oppenheimer restated an outperform rating and set a $124.00 target price (up previously from $118.00) on shares of SPX Technologies in a research note on Friday, February 23rd. StockNews.com lowered SPX Technologies from a buy rating to a hold rating in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $130.00.

SPX Technologies Stock Performance

NYSE:SPXC opened at $123.13 on Wednesday. The stock has a 50-day simple moving average of $111.10 and a two-hundred day simple moving average of $95.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.77. SPX Technologies has a 52-week low of $61.09 and a 52-week high of $123.40. The firm has a market capitalization of $5.63 billion, a PE ratio of 64.13, a P/E/G ratio of 1.34 and a beta of 1.25.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.25. SPX Technologies had a return on equity of 17.30% and a net margin of 5.16%. The company had revenue of $469.40 million during the quarter, compared to the consensus estimate of $481.98 million. During the same period in the previous year, the company posted $1.17 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Analysts forecast that SPX Technologies will post 5.03 EPS for the current year.

Insider Activity at SPX Technologies

In other SPX Technologies news, insider John William Swann III sold 32,325 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares of the company’s stock, valued at approximately $9,747,987.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SPX Technologies news, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the sale, the insider now owns 82,884 shares of the company’s stock, valued at approximately $9,747,987.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the transaction, the chief executive officer now owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,373 shares of company stock valued at $10,962,146. Corporate insiders own 4.02% of the company’s stock.

Institutional Trading of SPX Technologies

A number of large investors have recently made changes to their positions in the business. Navellier & Associates Inc. increased its stake in SPX Technologies by 1.4% during the third quarter. Navellier & Associates Inc. now owns 8,814 shares of the company’s stock worth $717,000 after acquiring an additional 125 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of SPX Technologies by 4.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,182 shares of the company’s stock worth $321,000 after purchasing an additional 132 shares during the period. MetLife Investment Management LLC increased its position in shares of SPX Technologies by 0.6% during the 2nd quarter. MetLife Investment Management LLC now owns 23,086 shares of the company’s stock valued at $1,962,000 after purchasing an additional 137 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in SPX Technologies by 4.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,648 shares of the company’s stock valued at $310,000 after buying an additional 144 shares during the period. Finally, Huntington National Bank lifted its position in SPX Technologies by 45.5% in the second quarter. Huntington National Bank now owns 467 shares of the company’s stock worth $40,000 after buying an additional 146 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Company Profile

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.