SPX Technologies (NYSE:SPXC) Sets New 52-Week Low – Should You Sell?

SPX Technologies, Inc. (NYSE:SPXC)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $116.02 and last traded at $118.00, with a volume of 290 shares. The stock had previously closed at $122.34.

Analyst Ratings Changes

Several research analysts recently commented on the company. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a research note on Wednesday, February 26th. UBS Group cut their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Sidoti upgraded SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.75.

SPX Technologies Stock Performance

The firm’s 50 day moving average price is $139.55 and its two-hundred day moving average price is $151.50. The firm has a market cap of $5.66 billion, a PE ratio of 32.52, a PEG ratio of 1.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

Institutional Investors Weigh In On SPX Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPXC. Verition Fund Management LLC acquired a new stake in shares of SPX Technologies during the 3rd quarter worth about $481,000. Centiva Capital LP purchased a new position in shares of SPX Technologies during the 3rd quarter worth approximately $361,000. HighTower Advisors LLC increased its holdings in SPX Technologies by 24.2% in the 3rd quarter. HighTower Advisors LLC now owns 6,651 shares of the company’s stock valued at $1,058,000 after purchasing an additional 1,295 shares during the last quarter. State Street Corp raised its position in SPX Technologies by 1.3% in the third quarter. State Street Corp now owns 1,729,989 shares of the company’s stock valued at $275,864,000 after purchasing an additional 22,177 shares during the period. Finally, Zacks Investment Management acquired a new position in SPX Technologies during the third quarter worth $836,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

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.