SPX Technologies (NYSE:SPXC) Upgraded at Oppenheimer

Oppenheimer upgraded shares of SPX Technologies (NYSE:SPXC) from a market perform rating to an outperform rating in a research note released on Wednesday, Marketbeat Ratings reports. Oppenheimer currently has $165.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. Wolfe Research started coverage on SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 target price on the stock. Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday. Finally, UBS Group dropped their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SPX Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Stock Performance

NYSE:SPXC opened at $145.55 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies has a fifty-two week low of $112.53 and a fifty-two week high of $183.83. The firm has a market cap of $6.75 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. The business has a 50 day moving average price of $147.15 and a 200-day moving average price of $155.41.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of SPX Technologies during the 4th quarter valued at $93,038,000. JPMorgan Chase & Co. boosted its stake in SPX Technologies by 666.7% during the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock worth $94,169,000 after acquiring an additional 513,526 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in SPX Technologies by 74.6% in the third quarter. Conestoga Capital Advisors LLC now owns 627,260 shares of the company’s stock worth $100,023,000 after purchasing an additional 267,965 shares during the period. Raymond James Financial Inc. bought a new position in shares of SPX Technologies during the fourth quarter valued at approximately $32,337,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of SPX Technologies by 45.3% during the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after purchasing an additional 217,316 shares during the last quarter. Institutional investors 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.