Truist Financial Forecasts Strong Price Appreciation for SPX Technologies (NYSE:SPXC) Stock

SPX Technologies (NYSE:SPXC) had its price objective lifted by stock analysts at Truist Financial from $216.00 to $244.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 7.49% from the stock’s current price.

A number of other equities research analysts have also recently commented on SPXC. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a report on Tuesday, January 6th. Oppenheimer lifted their target price on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday. Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company increased their price objective on shares of SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $249.29.

SPX Technologies Stock Down 2.0%

SPXC stock opened at $227.00 on Thursday. The business’s 50-day moving average price is $218.13 and its 200-day moving average price is $204.85. The stock has a market cap of $11.32 billion, a P/E ratio of 45.31, a PEG ratio of 1.59 and a beta of 1.32. The company has a quick ratio of 1.70, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. SPX Technologies has a twelve month low of $115.00 and a twelve month high of $246.68.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $637.30 million during the quarter, compared to analyst estimates of $625.98 million. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The company’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. On average, equities research analysts forecast that SPX Technologies will post 5.57 EPS for the current year.

Insider Transactions at SPX Technologies

In other SPX Technologies news, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction on 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 completion of the transaction, the insider directly owned 38,020 shares of the company’s stock, valued at $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SPX Technologies

Hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in SPX Technologies by 21.4% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after acquiring an additional 45 shares during the period. Lido Advisors LLC boosted its stake in shares of SPX Technologies by 1.6% during the fourth quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after purchasing an additional 50 shares during the period. 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. Ameritas Investment Partners Inc. grew its holdings in shares of SPX Technologies by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,661 shares of the company’s stock worth $782,000 after purchasing an additional 56 shares during the last quarter. Finally, Intrust Bank NA grew its holdings in shares of SPX Technologies by 3.6% in the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock worth $332,000 after purchasing an additional 58 shares during the last quarter. 92.82% of the stock is currently owned by 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.