SPX Technologies, Inc. (NYSE:SPXC) Receives $225.29 Average Target Price from Brokerages

SPX Technologies, Inc. (NYSE:SPXC) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $249.2857.

A number of brokerages recently weighed in on SPXC. Wells Fargo & Company upped their price objective on SPX Technologies from $220.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $280.00 in a research report on Friday, February 13th. Oppenheimer upped their price target on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday. B. Riley Financial reiterated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Finally, TD Cowen restated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th.

SPX Technologies Stock Down 2.0%

Shares of NYSE:SPXC opened at $227.00 on Wednesday. SPX Technologies has a fifty-two week low of $115.00 and a fifty-two week high of $246.68. The company has a quick ratio of 1.70, a current ratio of 2.48 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $218.13 and its 200-day simple moving average is $204.85. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 45.31, a PEG ratio of 1.59 and a beta of 1.32.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $625.98 million. During the same period in the prior year, the company posted $1.51 earnings per share. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, equities research analysts predict that SPX Technologies will post 5.57 earnings per share for the current year.

Insider Buying and Selling at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the sale, the insider owned 38,020 shares in the company, valued at $8,188,367.40. This represents a 23.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of SPX Technologies by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after acquiring an additional 232,436 shares during the last quarter. Invesco Ltd. grew its holdings in SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after purchasing an additional 722,039 shares during the period. Capital International Investors acquired a new position in SPX Technologies during the fourth quarter worth approximately $307,494,000. Geode Capital Management LLC raised its stake in SPX Technologies by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,213,809 shares of the company’s stock worth $242,874,000 after purchasing an additional 63,889 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of SPX Technologies by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock valued at $235,368,000 after purchasing an additional 84,117 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

About SPX Technologies

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.