JPMorgan Chase & Co. Has Lowered Expectations for SPX Technologies (NYSE:SPXC) Stock Price

SPX Technologies (NYSE:SPXC) had its price target cut by stock analysts at JPMorgan Chase & Co. from $282.00 to $225.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 32.79% from the company’s current price.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of SPX Technologies in a research report on Monday, August 3rd. Truist Financial dropped their target price on SPX Technologies from $301.00 to $266.00 and set a “buy” rating on the stock in a report on Monday. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research cut SPX Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, B. Riley Financial upped their target price on SPX Technologies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $248.09.

SPX Technologies Trading Up 0.5%

Shares of SPXC traded up $0.86 during mid-day trading on Friday, reaching $169.44. 342,069 shares of the company’s stock traded hands, compared to its average volume of 563,290. The stock’s 50-day moving average is $193.83 and its two-hundred day moving average is $208.84. The stock has a market cap of $8.49 billion, a P/E ratio of 30.48, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. SPX Technologies has a 12 month low of $166.17 and a 12 month high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. During the same quarter last year, the firm earned $1.65 EPS. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Research analysts forecast that SPX Technologies will post 8.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in SPX Technologies in the 2nd quarter valued at $1,189,365,000. Jupiter Topco LLC acquired a new position in shares of SPX Technologies during the 2nd quarter valued at about $465,593,000. First Trust Advisors LP grew its holdings in shares of SPX Technologies by 181.4% in the first quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock valued at $272,492,000 after purchasing an additional 878,494 shares during the period. Janus Henderson Group PLC increased its position in SPX Technologies by 5.9% during the first quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock worth $153,011,000 after purchasing an additional 42,921 shares during the last quarter. Finally, Port Capital LLC purchased a new position in SPX Technologies during the second quarter worth about $109,159,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

SPX Technologies, Inc is a diversified industrial technology company headquartered in Charlotte, North Carolina. The company designs, manufactures and services highly engineered products and solutions used by customers in the heating, ventilation and air-conditioning (HVAC), infrastructure and industrial markets.

SPX’s HVAC businesses provide cooling towers, evaporative and air-cooled cooling systems, boilers, heat-transfer equipment, air-handling products and related services. Its brands include Marley, Recold, Weil-McLain, Patterson-Kelley, Berko and QMark.