SPX Technologies (NYSE:SPXC) Shares Gap Down – Should You Sell?

SPX Technologies, Inc. (NYSE:SPXC) gapped down before the market opened on Wednesday . The stock had previously closed at $219.16, but opened at $201.08. SPX Technologies shares last traded at $193.78, with a volume of 20,306 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPXC. JPMorgan Chase & Co. raised their target price on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Oppenheimer restated an “outperform” rating and issued a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.30.

SPX Technologies Stock Down 6.1%

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. The stock has a market capitalization of $9.60 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. The firm has a 50 day moving average of $224.85 and a 200-day moving average of $217.77.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH raised its position in SPX Technologies by 46.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,224 shares of the company’s stock worth $14,854,000 after purchasing an additional 23,439 shares in the last quarter. SG Americas Securities LLC lifted its stake in SPX Technologies by 250.8% during the fourth quarter. SG Americas Securities LLC now owns 22,764 shares of the company’s stock worth $4,554,000 after purchasing an additional 16,275 shares during the period. State of Michigan Retirement System acquired a new stake in SPX Technologies during the fourth quarter valued at approximately $2,361,000. Inceptionr LLC boosted its holdings in SPX Technologies by 101.6% during the fourth quarter. Inceptionr LLC now owns 5,691 shares of the company’s stock valued at $1,139,000 after purchasing an additional 2,868 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of SPX Technologies by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 445,434 shares of the company’s stock valued at $89,060,000 after purchasing an additional 17,524 shares during the period. 92.82% of the stock is owned by 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.