SPX Technologies (NYSE:SPXC) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of SPX Technologies (NYSE:SPXC) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

A number of other equities research analysts also recently commented on the company. Truist Financial lifted their target price on SPX Technologies from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Bank of America upgraded SPX Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $280.00 in a research report on Friday, February 13th. Oppenheimer lifted their target price on SPX Technologies from $240.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lifted their target price on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their price objective on SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.44.

SPX Technologies Price Performance

NYSE:SPXC opened at $202.92 on Friday. SPX Technologies has a 52 week low of $147.39 and a 52 week high of $246.68. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10.18 billion, a P/E ratio of 39.71, a P/E/G ratio of 1.49 and a beta of 1.31. The stock’s fifty day moving average is $210.51 and its two-hundred day moving average is $212.47.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The company had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. During the same quarter in the previous year, the business earned $1.38 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. Equities analysts expect that SPX Technologies will post 7.97 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. grew its stake in SPX Technologies by 21.4% during the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $51,000 after purchasing an additional 45 shares in the last quarter. Lido Advisors LLC grew its stake in SPX Technologies by 1.6% during the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock worth $586,000 after purchasing an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in SPX Technologies by 52.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 156 shares of the company’s stock worth $29,000 after purchasing an additional 54 shares in the last quarter. Intrust Bank NA grew its stake in SPX Technologies by 3.6% during the 4th quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock worth $332,000 after purchasing an additional 58 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in SPX Technologies by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock worth $286,000 after purchasing an additional 60 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.