SPX Technologies, Inc. (NYSE:SPXC) Receives $174.75 Average PT from Analysts

SPX Technologies, Inc. (NYSE:SPXC) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $174.75.

A number of analysts have commented on the stock. Oppenheimer upgraded shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research note on Wednesday, February 26th. Wolfe Research assumed coverage on SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 price target for the company. UBS Group reduced their price objective 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. Finally, Sidoti raised shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th.

Institutional Trading of SPX Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC purchased a new position in SPX Technologies in the fourth quarter valued at approximately $318,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of SPX Technologies in the fourth quarter valued at $5,209,000. Armis Advisers LLC purchased a new position in shares of SPX Technologies during the 4th quarter valued at $319,000. Palisades Investment Partners LLC grew its stake in shares of SPX Technologies by 9.9% during the 4th quarter. Palisades Investment Partners LLC now owns 112,097 shares of the company’s stock worth $16,312,000 after acquiring an additional 10,109 shares during the period. Finally, Twinbeech Capital LP bought a new position in shares of SPX Technologies during the 4th quarter worth $1,931,000. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Trading Down 1.1 %

Shares of SPX Technologies stock opened at $133.94 on Friday. The stock has a market capitalization of $6.21 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. SPX Technologies has a 52 week low of $116.05 and a 52 week high of $183.83. The stock has a 50 day moving average price of $144.64 and a two-hundred day moving average price of $153.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

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.