SPX Technologies (NYSE:SPXC) Now Covered by Analysts at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. began coverage on shares of SPX Technologies (NYSE:SPXC) in a report issued on Wednesday,Benzinga reports. The brokerage set an “overweight” rating and a $260.00 price target on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 18.48% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Oppenheimer increased their target price on shares of SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Bank of America upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $280.00 in a research note on Friday, February 13th. B. Riley Financial restated a “buy” rating and set a $244.00 price target (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Wells Fargo & Company lifted their price objective on SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Finally, TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $250.63.

SPX Technologies Trading Down 2.5%

SPXC stock opened at $219.44 on Wednesday. SPX Technologies has a 1-year low of $115.00 and a 1-year high of $246.68. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $218.75 and its 200-day moving average is $205.55. The firm has a market cap of $10.95 billion, a P/E ratio of 43.80, a P/E/G ratio of 1.74 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business had revenue of $637.30 million for the quarter, compared to analyst estimates of $625.98 million. During the same quarter in the previous year, the firm earned $1.51 EPS. SPX Technologies’s quarterly revenue was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. Equities analysts anticipate that SPX Technologies will post 5.57 earnings per share for the current fiscal year.

Insider Activity at SPX Technologies

In other news, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction 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 completion of the sale, the insider directly owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. This trade represents a 23.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On SPX Technologies

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

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.