Wells Fargo & Company Lowers SPX Technologies (NYSE:SPXC) Price Target to $225.00

SPX Technologies (NYSE:SPXC) had its price objective reduced by stock analysts at Wells Fargo & Company from $270.00 to $225.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.84% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research note on Monday, December 29th. JPMorgan Chase & Co. started coverage on shares of SPX Technologies in a report on Wednesday, March 4th. They issued an “overweight” rating and a $260.00 target price for the company. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Oppenheimer lifted their price objective on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, SPX Technologies currently has an average rating of “Moderate Buy” and an average price target of $244.67.

SPX Technologies Trading Up 2.4%

Shares of NYSE SPXC traded up $4.90 during mid-day trading on Wednesday, reaching $204.84. 226,732 shares of the company’s stock were exchanged, compared to its average volume of 430,568. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 40.89, a PEG ratio of 1.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.48. SPX Technologies has a 52-week low of $115.00 and a 52-week high of $246.68. The company’s 50-day moving average is $216.53 and its 200-day moving average is $207.66.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm had revenue of $637.30 million for the quarter, compared to analyst estimates of $625.98 million. During the same period in the previous year, the firm earned $1.51 EPS. SPX Technologies’s revenue was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Analysts expect that SPX Technologies will post 5.57 EPS for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

A number of hedge funds have recently added to or reduced their stakes in SPXC. Vanguard Group Inc. increased its position in shares of SPX Technologies by 4.6% during the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock worth $989,649,000 after acquiring an additional 232,436 shares during the period. Invesco Ltd. grew its stake in SPX Technologies by 62.4% during the 3rd quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after purchasing an additional 722,039 shares in the last quarter. Capital International Investors purchased a new stake in SPX Technologies during the 4th quarter worth about $307,494,000. Geode Capital Management LLC raised its position in SPX Technologies by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock valued at $242,874,000 after purchasing an additional 63,889 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in SPX Technologies by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock valued at $235,368,000 after purchasing an additional 84,117 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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.