SPX Technologies (NYSE:SPXC) Rating Increased to Outperform at Oppenheimer

SPX Technologies (NYSE:SPXC) was upgraded by equities researchers at Oppenheimer from a “market perform” rating to an “outperform” rating in a report released on Wednesday,Finviz reports. The brokerage currently has a $165.00 price target on the stock. Oppenheimer’s price target points to a potential upside of 21.04% from the stock’s current price.

Several other research analysts have also issued reports on SPXC. Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday. UBS Group decreased 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, 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 target price on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.75.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $136.31 on Wednesday. SPX Technologies has a 12-month low of $107.23 and a 12-month high of $183.83. The business’s fifty day simple moving average is $146.96 and its 200-day simple moving average is $155.53. 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 company has a market cap of $6.32 billion, a PE ratio of 36.64, a PEG ratio of 1.33 and a beta of 1.29.

Institutional Investors Weigh In On SPX Technologies

A number of large investors have recently bought and sold shares of SPXC. Norges Bank acquired a new stake in SPX Technologies during the 4th quarter valued at approximately $93,038,000. JPMorgan Chase & Co. lifted its position in SPX Technologies by 666.7% during the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after purchasing an additional 513,526 shares during the period. Conestoga Capital Advisors LLC boosted 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 valued at $100,023,000 after purchasing an additional 267,965 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in SPX Technologies during the 4th quarter worth about $32,337,000. Finally, Janus Henderson Group PLC raised its stake in shares of SPX Technologies by 45.3% during the 3rd quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock valued at $111,100,000 after buying an additional 217,316 shares during the last quarter. Hedge funds and other 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.