SPX Technologies (NYSE:SPXC) Given New $190.00 Price Target at JPMorgan Chase & Co.

SPX Technologies (NYSE:SPXC) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $225.00 to $190.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 22.88% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the company. Vertical Research assumed coverage on SPX Technologies in a report on Monday, September 28th. They issued a “buy” rating and a $215.00 target price on the stock. Zacks Research downgraded SPX Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Truist Financial restated a “buy” rating and set a $233.00 price target (down from $266.00) on shares of SPX Technologies in a research note on Monday, November 2nd. Robert W. Baird assumed coverage on SPX Technologies in a report on Monday, October 5th. They issued an “outperform” rating and a $220.00 price objective on the stock. Finally, Oppenheimer reduced their price objective on SPX Technologies from $265.00 to $260.00 and set an “outperform” rating on the stock in a research note on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.40.

SPX Technologies Trading Up 3.0%

NYSE:SPXC traded up $4.50 during trading hours on Wednesday, reaching $154.62. 136,152 shares of the company were exchanged, compared to its average volume of 582,954. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.17. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.00 and a beta of 1.26. SPX Technologies has a 52-week low of $137.86 and a 52-week high of $251.08. The stock has a 50 day simple moving average of $171.50 and a 200 day simple moving average of $205.27.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, October 29th. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.09. SPX Technologies had a net margin of 11.48% and a return on equity of 16.96%. The company had revenue of $714.50 million for the quarter, compared to analyst estimates of $710.38 million. During the same quarter last year, the business earned $1.84 EPS. SPX Technologies’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, analysts predict that SPX Technologies will post 8.39 EPS for the current year.

Insider Activity

In related news, Director Brian A. Deck bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were acquired at an average cost of $140.75 per share, for a total transaction of $140,750.00. Following the acquisition, the director owned 4,742 shares in the company, valued at $667,436.50. This represents a 26.72% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.88% of the company’s stock.

Institutional Trading of SPX Technologies

Several large investors have recently bought and sold shares of the company. Compound Planning Inc. raised its stake in shares of SPX Technologies by 4.3% during the first quarter. Compound Planning Inc. now owns 1,625 shares of the company’s stock valued at $325,000 after purchasing an additional 67 shares during the period. Lido Advisors LLC boosted its stake in shares of SPX Technologies by 2.5% in the third quarter. Lido Advisors LLC now owns 3,122 shares of the company’s stock valued at $529,000 after purchasing an additional 76 shares during the period. Parallel Advisors LLC boosted its stake in shares of SPX Technologies by 38.1% in the first quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of SPX Technologies by 9.6% in the third quarter. Farther Finance Advisors LLC now owns 1,259 shares of the company’s stock valued at $213,000 after purchasing an additional 110 shares during the period. Finally, Group One Trading LLC acquired a new stake in SPX Technologies during the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Company Profile

SPX Technologies, Inc. is a global supplier of engineered products and technologies, serving customers in markets that include commercial and residential buildings, infrastructure, and industrial applications. The company operates through its HVAC and Detection and Measurement businesses. Its HVAC products include cooling towers, boilers, heating equipment, ventilation and air treatment systems, and related components. Its Detection and Measurement business provides technologies used to locate and inspect underground utilities, as well as communication and measurement products for specialized applications.