SPX Technologies (NYSE:SPXC) Rating Lowered to Hold at Wall Street Zen

SPX Technologies (NYSE:SPXC) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on SPXC. Robert W. Baird began coverage on SPX Technologies in a report on Monday, October 5th. They set an “outperform” rating and a $220.00 price objective on the stock. Vertical Research started coverage on SPX Technologies in a research report on Monday, September 28th. They issued a “buy” rating and a $215.00 price objective for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 target price on shares of SPX Technologies in a report on Monday, August 3rd. Wolfe Research started coverage on shares of SPX Technologies in a research report on Tuesday, September 15th. They set an “outperform” rating and a $250.00 target price on the stock. Finally, Truist Financial decreased their target price on shares of SPX Technologies from $301.00 to $266.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $248.09.

SPX Technologies Stock Performance

NYSE SPXC opened at $169.44 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $192.82 and its two-hundred day moving average is $208.66. SPX Technologies has a 12-month low of $166.17 and a 12-month high of $251.08. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 1.09 and a beta of 1.24.

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

Institutional Investors Weigh In On SPX Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in shares of SPX Technologies by 9.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,259 shares of the company’s stock worth $213,000 after acquiring an additional 110 shares during the period. Cim Investment Management Inc. raised its holdings in SPX Technologies by 21.5% during the second quarter. Cim Investment Management Inc. now owns 1,551 shares of the company’s stock worth $380,000 after purchasing an additional 274 shares during the last quarter. QRG Capital Management Inc. acquired a new position in SPX Technologies during the second quarter worth $293,000. Sequoia Financial Advisors LLC raised its holdings in SPX Technologies by 36.2% during the second quarter. Sequoia Financial Advisors LLC now owns 4,466 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,186 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in SPX Technologies by 10.7% during the second quarter. Tidal Investments LLC now owns 52,384 shares of the company’s stock worth $12,843,000 after purchasing an additional 5,061 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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.