SPX Technologies, Inc. (NYSE:SPXC) Receives $195.20 Average Price Target from Analysts

Shares of SPX Technologies, Inc. (NYSE:SPXC) have earned an average recommendation of “Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $195.20.

SPXC has been the topic of several research reports. Oppenheimer boosted their price target on SPX Technologies from $170.00 to $197.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. UBS Group boosted their price target on SPX Technologies from $182.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 1st. B. Riley assumed coverage on SPX Technologies in a research note on Thursday, May 15th. They set a “buy” rating and a $195.00 price target on the stock. Finally, Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th.

Institutional Investors Weigh In On SPX Technologies

Large investors have recently modified their holdings of the stock. NBC Securities Inc. bought a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SPX Technologies in the 2nd quarter valued at approximately $31,000. MAI Capital Management grew its stake in shares of SPX Technologies by 80.9% in the 2nd quarter. MAI Capital Management now owns 208 shares of the company’s stock valued at $35,000 after purchasing an additional 93 shares during the period. Eastern Bank bought a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $38,000. Finally, SVB Wealth LLC bought a new stake in shares of SPX Technologies in the 1st quarter valued at approximately $39,000. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Trading Up 0.7%

SPX Technologies stock opened at $187.87 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.28 and a current ratio of 1.97. The business’s 50-day simple moving average is $183.69 and its 200-day simple moving average is $157.14. The firm has a market capitalization of $8.78 billion, a PE ratio of 42.22, a PEG ratio of 1.59 and a beta of 1.32. SPX Technologies has a 52 week low of $115.00 and a 52 week high of $209.38.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.20. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The business had revenue of $552.40 million for the quarter, compared to analyst estimates of $546.03 million. During the same period in the previous year, the company posted $1.42 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts forecast that SPX Technologies will post 5.57 earnings per share for the current year.

SPX Technologies Company Profile

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.