UBS Group Lowers SPX Technologies (NYSE:SPXC) Price Target to $160.00

SPX Technologies (NYSE:SPXC) had its price target cut by investment analysts at UBS Group from $164.00 to $160.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 6.95% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of SPX Technologies in a research report on Monday, November 25th. They set an “outperform” rating and a $199.00 price target on the stock. Sidoti cut SPX Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $187.00 to $175.00 in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $168.50.

SPX Technologies Trading Up 0.3 %

Shares of NYSE:SPXC opened at $149.60 on Tuesday. The business has a 50 day moving average of $159.49 and a two-hundred day moving average of $155.32. SPX Technologies has a 12-month low of $95.00 and a 12-month high of $183.83. The company has a market capitalization of $6.94 billion, a PE ratio of 40.22, a PEG ratio of 1.55 and a beta of 1.30. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. During the same period last year, the firm posted $1.06 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that SPX Technologies will post 5.56 EPS for the current year.

Institutional Trading of SPX Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assetmark Inc. boosted its holdings in SPX Technologies by 4.7% in the third quarter. Assetmark Inc. now owns 1,745 shares of the company’s stock valued at $278,000 after acquiring an additional 78 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of SPX Technologies by 4.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,538 shares of the company’s stock worth $503,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. increased its position in SPX Technologies by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,233 shares of the company’s stock worth $1,632,000 after purchasing an additional 158 shares in the last quarter. M&T Bank Corp raised its holdings in SPX Technologies by 0.4% in the third quarter. M&T Bank Corp now owns 37,541 shares of the company’s stock valued at $5,986,000 after buying an additional 160 shares during the period. Finally, KBC Group NV lifted its position in SPX Technologies by 14.3% during the third quarter. KBC Group NV now owns 1,295 shares of the company’s stock valued at $207,000 after buying an additional 162 shares in the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

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.