Truist Financial Reiterates “Buy” Rating for SPX Technologies (NYSE:SPXC)

SPX Technologies (NYSE:SPXC)‘s stock had its “buy” rating reiterated by equities research analysts at Truist Financial in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $301.00 target price on the stock, up from their previous target price of $295.00. Truist Financial’s price objective would suggest a potential upside of 39.51% from the stock’s previous close.

SPXC has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 price target (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price target on shares of SPX Technologies in a research report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a report on Wednesday, July 8th. Finally, B. Riley Financial lifted their target price on shares of SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $266.67.

SPX Technologies Price Performance

Shares of SPXC stock traded down $3.87 on Monday, reaching $215.75. 42,698 shares of the company were exchanged, compared to its average volume of 578,025. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 1.55 and a beta of 1.27. The business has a 50-day moving average price of $224.63 and a 200 day moving average price of $217.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.82. SPX Technologies has a 1 year low of $179.62 and a 1 year high of $251.08.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Equities research analysts forecast that SPX Technologies will post 8.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPXC. Ares Financial Consulting LLC purchased a new stake in shares of SPX Technologies in the fourth quarter valued at approximately $37,000. Flagship Harbor Advisors LLC acquired a new position in SPX Technologies during the fourth quarter worth $40,000. Sound Income Strategies LLC acquired a new position in SPX Technologies during the fourth quarter worth $45,000. Hazlett Burt & Watson Inc. grew its holdings in SPX Technologies by 56.7% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock valued at $47,000 after buying an additional 85 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in SPX Technologies by 21.4% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after buying an additional 45 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.