UBS Group Increases SPX Technologies (NYSE:SPXC) Price Target to $142.00

SPX Technologies (NYSE:SPXC) had its price objective increased by investment analysts at UBS Group from $126.00 to $142.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 4.79% from the company’s previous close.

SPXC has been the topic of a number of other research reports. StockNews.com raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Oppenheimer increased their price objective on SPX Technologies from $134.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of SPX Technologies in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, SPX Technologies presently has an average rating of “Moderate Buy” and an average target price of $141.00.

SPX Technologies Trading Down 0.5 %

SPX Technologies stock traded down $0.65 during trading hours on Wednesday, reaching $135.51. 33,455 shares of the company’s stock traded hands, compared to its average volume of 238,744. The firm’s 50 day moving average is $119.93 and its 200-day moving average is $104.08. SPX Technologies has a fifty-two week low of $71.33 and a fifty-two week high of $136.49. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 66.10, a PEG ratio of 1.35 and a beta of 1.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 1.12.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.19. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The business had revenue of $465.20 million for the quarter, compared to analyst estimates of $454.05 million. During the same quarter last year, the firm earned $0.93 EPS. SPX Technologies’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, analysts predict that SPX Technologies will post 5.38 earnings per share for the current year.

Insider Activity

In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $115.48, for a total value of $3,123,503.04. Following the transaction, the chief executive officer now owns 597,936 shares in the company, valued at $69,049,649.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the sale, the chief executive officer now directly owns 597,936 shares of the company’s stock, valued at $69,049,649.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the transaction, the insider now directly owns 82,884 shares in the company, valued at $9,747,987.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,373 shares of company stock valued at $10,962,146. 3.53% of the stock is owned by company insiders.

Institutional Trading of SPX Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SPXC. YHB Investment Advisors Inc. purchased a new stake in SPX Technologies during the first quarter valued at about $51,000. Palisade Asset Management LLC purchased a new stake in shares of SPX Technologies in the 1st quarter worth about $74,000. TFO Wealth Partners LLC raised its stake in SPX Technologies by 58,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock valued at $118,000 after buying an additional 1,168 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of SPX Technologies by 54.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after buying an additional 475 shares during the last quarter. Finally, MCF Advisors LLC bought a new position in SPX Technologies during the 4th quarter valued at about $173,000. Institutional investors own 92.82% of the company’s stock.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.