SPX Technologies (NYSE:SPXC) Shares Gap Down – Here’s What Happened

Shares of SPX Technologies, Inc. (NYSE:SPXC) gapped down prior to trading on Wednesday . The stock had previously closed at $219.16, but opened at $201.08. SPX Technologies shares last traded at $193.78, with a volume of 20,306 shares trading hands.

Analysts Set New Price Targets

Several research firms have issued reports on SPXC. B. Riley Financial reiterated a “buy” rating on shares of SPX Technologies in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Wall Street Zen cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Truist Financial lifted their price target on shares of SPX Technologies from $261.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, SPX Technologies has a consensus rating of “Moderate Buy” and an average price target of $255.30.

SPX Technologies Stock Performance

The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. The stock has a 50 day moving average price of $224.85 and a two-hundred day moving average price of $217.77.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.14. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. During the same quarter in the prior year, the company earned $1.38 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, analysts predict that SPX Technologies, Inc. will post 7.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SPXC. Hantz Financial Services Inc. lifted its holdings 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 buying an additional 45 shares in the last quarter. Lido Advisors LLC increased its stake in shares of SPX Technologies by 1.6% in the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after buying an additional 50 shares during the period. Intrust Bank NA raised its position in shares of SPX Technologies by 3.6% during the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock worth $332,000 after acquiring an additional 58 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of SPX Technologies by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock worth $286,000 after acquiring an additional 60 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of SPX Technologies by 7.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock valued at $188,000 after acquiring an additional 62 shares during the period. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Company Profile

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.