SPX Technologies (NYSE:SPXC) Price Target Raised to $216.00

SPX Technologies (NYSE:SPXC) had its price target lifted by equities researchers at Truist Financial from $215.00 to $216.00 in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 0.36% from the stock’s previous close.

SPXC has been the subject of a number of other reports. Bank of America initiated coverage on shares of SPX Technologies in a research report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 price objective for the company. B. Riley reiterated a “buy” rating and issued a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Wells Fargo & Company began coverage on shares of SPX Technologies in a research report on Tuesday, October 14th. They set an “overweight” rating and a $205.00 price target for the company. Wall Street Zen raised shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, TD Cowen assumed coverage on SPX Technologies in a research note on Monday, November 10th. They set a “hold” rating and a $225.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $214.14.

SPX Technologies Stock Performance

SPXC stock traded up $7.89 during midday trading on Thursday, reaching $215.22. 66,154 shares of the company’s stock traded hands, compared to its average volume of 325,783. The firm has a market capitalization of $10.73 billion, a PE ratio of 46.09, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The company has a 50-day moving average price of $205.98 and a two-hundred day moving average price of $188.54. SPX Technologies has a 52 week low of $115.00 and a 52 week high of $233.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.24. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.The company had revenue of $592.80 million during the quarter, compared to analysts’ expectations of $574.32 million. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. As a group, equities analysts anticipate that SPX Technologies will post 5.57 EPS for the current year.

Insiders Place Their Bets

In other SPX Technologies news, insider John William Swann III sold 38,755 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the sale, the insider directly owned 64,266 shares of the company’s stock, valued at $13,243,294.62. The trade was a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the sale, the insider owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. bought a new position in SPX Technologies during the 3rd quarter worth approximately $28,000. Cullen Frost Bankers Inc. boosted its stake in shares of 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 period. Optiver Holding B.V. boosted its stake in shares of SPX Technologies by 110.5% during 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 during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of SPX Technologies in the second quarter worth approximately $31,000. Finally, Financial Consulate Inc. bought a new stake in SPX Technologies during the 3rd quarter valued at $34,000. Institutional investors own 92.82% of the company’s stock.

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.