SPX Technologies, Inc. (NYSE:SPXC) Receives $168.50 Average PT from Brokerages

Shares of SPX Technologies, Inc. (NYSE:SPXC) have received an average recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $168.50.

A number of research firms have issued reports on SPXC. UBS Group decreased their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Wolfe Research initiated coverage on SPX Technologies in a report on Monday, November 25th. They set an “outperform” rating and a $199.00 target price on the stock. Finally, Sidoti lowered SPX Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $187.00 to $175.00 in a research note on Friday, December 6th.

SPX Technologies Stock Down 4.4 %

NYSE:SPXC opened at $140.18 on Wednesday. SPX Technologies has a 1 year low of $103.11 and a 1 year high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 1.35 and a beta of 1.29. The stock has a 50-day moving average price of $148.06 and a two-hundred day moving average price of $155.56.

Hedge Funds Weigh In On SPX Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC grew its position in SPX Technologies by 212.5% during the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock worth $3,786,000 after buying an additional 16,145 shares in the last quarter. Barclays PLC lifted its stake in shares of SPX Technologies by 299.0% in the 3rd quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after acquiring an additional 63,373 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of SPX Technologies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after acquiring an additional 8,916 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of SPX Technologies by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock valued at $53,203,000 after acquiring an additional 17,324 shares during the last quarter. Finally, Corsair Capital Management L.P. raised its position in SPX Technologies by 80,185.2% during the 3rd quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock worth $18,179,000 after purchasing an additional 113,863 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

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.