SPX Technologies (NYSE:SPXC) Trading Down 5.6% – Here’s Why

SPX Technologies, Inc. (NYSE:SPXC) shares were down 5.6% during trading on Friday . The company traded as low as $221.71 and last traded at $220.50. Approximately 523,472 shares were traded during trading, an increase of 5% from the average daily volume of 496,680 shares. The stock had previously closed at $233.49.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SPXC shares. Wall Street Zen cut SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Truist Financial boosted their target price on shares of SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. BMO Capital Markets initiated coverage on shares of SPX Technologies in a report on Friday, March 27th. They set an “outperform” rating and a $243.00 price objective on the stock. Finally, B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $249.44.

SPX Technologies Stock Performance

The company has a 50-day moving average of $214.08 and a 200-day moving average of $213.86. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company has a market cap of $11.14 billion, a PE ratio of 43.27, a PEG ratio of 1.64 and a beta of 1.28.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The firm had revenue of $566.80 million for the quarter, compared to analysts’ expectations of $557.62 million. During the same quarter last year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. As a group, analysts anticipate that SPX Technologies, Inc. will post 7.98 earnings per share for the current year.

Institutional Trading of SPX Technologies

Large investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. increased its holdings in SPX Technologies by 110.5% during the third quarter. Optiver Holding B.V. now owns 160 shares of the company’s stock worth $30,000 after buying an additional 84 shares during the last quarter. Ares Financial Consulting LLC bought a new position in shares of SPX Technologies during the 4th quarter worth $37,000. Flagship Harbor Advisors LLC bought a new position in shares of SPX Technologies during the 4th quarter worth $40,000. Sound Income Strategies LLC bought a new position in shares of SPX Technologies during the 4th quarter worth $45,000. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of SPX Technologies by 56.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 235 shares of the company’s stock worth $47,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Company Profile

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.