SPX Technologies, Inc. (NYSE:SPXC) Stock Has Average Price Target of $252.18

SPX Technologies, Inc. (NYSE:SPXC) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $248.09.

A number of brokerages recently commented on SPXC. Robert W. Baird initiated coverage on shares of SPX Technologies in a research report on Monday, October 5th. They issued an “outperform” rating and a $220.00 target price on the stock. Zacks Research lowered shares of SPX Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Wolfe Research assumed coverage on SPX Technologies in a research note on Tuesday, September 15th. They set an “outperform” rating and a $250.00 price objective on the stock. B. Riley Financial boosted their target price on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company restated an “overweight” rating and set a $250.00 target price on shares of SPX Technologies in a report on Monday, August 3rd.

Institutional Trading of SPX Technologies

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of SPX Technologies in the second quarter worth $1,189,365,000. Jupiter Topco LLC bought a new stake in SPX Technologies during the 2nd quarter valued at $465,593,000. First Trust Advisors LP boosted its position in SPX Technologies by 181.4% during the 1st quarter. First Trust Advisors LP now owns 1,362,871 shares of the company’s stock valued at $272,492,000 after buying an additional 878,494 shares during the period. Janus Henderson Group PLC boosted its position in SPX Technologies by 5.9% during the 1st quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock valued at $153,011,000 after buying an additional 42,921 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in SPX Technologies by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock worth $89,060,000 after acquiring an additional 17,524 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Up 0.5%

Shares of SPXC opened at $169.44 on Thursday. The firm has a market cap of $8.49 billion, a P/E ratio of 30.48, a P/E/G ratio of 1.10 and a beta of 1.24. The stock has a 50 day simple moving average of $192.82 and a two-hundred day simple moving average of $208.57. 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 1 year low of $166.17 and a 1 year high of $251.08.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.85 by $0.17. The firm had revenue of $679.00 million for 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 business’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, analysts forecast that SPX Technologies will post 8.48 earnings per share for the current fiscal year.

About SPX Technologies

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.