SPX Technologies (NYSE:SPXC) Stock Gets Price Target Cut from Oppenheimer

SPX Technologies (NYSE:SPXC) had its price objective decreased by Oppenheimer from $270.00 to $265.00 in a research report report published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of SPX Technologies from $250.00 to $243.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. B. Riley Financial raised their target price on shares of SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings downgraded shares of SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 21st. Zacks Research lowered shares of SPX Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, Vertical Research assumed coverage on shares of SPX Technologies in a research report on Monday, September 28th. They set a “buy” rating and a $215.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, SPX Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.00.

SPX Technologies Trading Up 0.4%

NYSE:SPXC opened at $160.57 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.82 and a quick ratio of 1.21. SPX Technologies has a fifty-two week low of $155.86 and a fifty-two week high of $251.08. The stock’s 50-day moving average is $183.00 and its two-hundred day moving average is $206.29. The stock has a market cap of $8.04 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.03 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $640.18 million. During the same period in the prior year, the business posted $1.65 earnings per share. SPX Technologies’s revenue for the quarter was up 22.9% compared to the same quarter last year. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, equities research analysts forecast that SPX Technologies will post 8.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors have recently added to or reduced their stakes in SPXC. Robeco Schweiz AG increased its stake in SPX Technologies by 17.4% during the third quarter. Robeco Schweiz AG now owns 179,472 shares of the company’s stock valued at $30,431,000 after acquiring an additional 26,643 shares during the period. Signaturefd LLC raised its holdings in SPX Technologies by 57.7% in the 3rd quarter. Signaturefd LLC now owns 555 shares of the company’s stock valued at $94,000 after acquiring an additional 203 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of SPX Technologies in the 3rd quarter worth approximately $243,000. Inspire Investing LLC lifted its position in shares of SPX Technologies by 96.2% in the 3rd quarter. Inspire Investing LLC now owns 5,260 shares of the company’s stock worth $892,000 after acquiring an additional 2,579 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in shares of SPX Technologies in the 3rd quarter worth approximately $260,000. 92.82% of the stock is owned by institutional investors and hedge funds.

SPX Technologies Company Profile

SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.

SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.