SPX Technologies (NYSE:SPXC) Given New $160.00 Price Target at UBS Group

SPX Technologies (NYSE:SPXC) had its price objective cut by UBS Group from $164.00 to $160.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also issued reports on SPXC. Sidoti lowered shares of SPX Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $187.00 to $175.00 in a research note on Friday, December 6th. Wolfe Research began coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $168.50.

SPX Technologies Trading Down 4.9 %

NYSE SPXC opened at $141.93 on Tuesday. The company’s fifty day simple moving average is $159.15 and its 200-day simple moving average is $155.30. SPX Technologies has a 52 week low of $95.00 and a 52 week high of $183.83. 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 stock has a market cap of $6.58 billion, a P/E ratio of 38.15, a PEG ratio of 1.55 and a beta of 1.30.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 earnings per share. Equities research analysts predict that SPX Technologies will post 5.56 EPS for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in SPX Technologies by 666.7% in the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock worth $94,169,000 after purchasing an additional 513,526 shares during the period. Conestoga Capital Advisors LLC lifted 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. Janus Henderson Group PLC lifted its holdings in SPX Technologies by 45.3% in the third quarter. Janus Henderson Group PLC now owns 696,713 shares of the company’s stock worth $111,100,000 after purchasing an additional 217,316 shares during the period. Select Equity Group L.P. acquired a new stake in SPX Technologies in the second quarter worth about $24,904,000. Finally, Hood River Capital Management LLC lifted its holdings in SPX Technologies by 1,342.6% in the second quarter. Hood River Capital Management LLC now owns 187,537 shares of the company’s stock worth $26,657,000 after purchasing an additional 174,537 shares during the period. Institutional investors 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.