JPMorgan Chase & Co. Begins Coverage on SPX Technologies (NYSE:SPXC)

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of SPX Technologies (NYSE:SPXC) in a note issued to investors on Wednesday,Benzinga reports. The firm set an “overweight” rating and a $260.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 18.48% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Wells Fargo & Company boosted their target price on SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Oppenheimer raised their price target on SPX Technologies from $240.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. B. Riley Financial reiterated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Finally, TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, SPX Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $250.63.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $219.44 on Wednesday. The stock has a market cap of $10.95 billion, a PE ratio of 43.80, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30. The stock has a 50-day moving average of $218.75 and a 200-day moving average of $205.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82. SPX Technologies has a one year low of $115.00 and a one year high of $246.68.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. SPX Technologies had a net margin of 10.77% and a return on equity of 17.82%. The firm had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $625.98 million. During the same quarter in the previous year, the company earned $1.51 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 7.600-8.000 EPS. As a group, sell-side analysts expect that SPX Technologies will post 5.57 earnings per share for the current year.

Insider Activity at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the transaction, the insider owned 38,020 shares in the company, valued at approximately $8,188,367.40. This represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPX Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPXC. Capital International Investors acquired a new position in shares of SPX Technologies during the 4th quarter worth about $307,494,000. Invesco Ltd. raised its holdings in SPX Technologies by 62.4% during the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock worth $351,000,000 after acquiring an additional 722,039 shares in the last quarter. Norges Bank acquired a new position in SPX Technologies during the fourth quarter valued at approximately $123,721,000. Vanguard Group Inc. grew its stake in SPX Technologies by 4.6% in the third quarter. Vanguard Group Inc. now owns 5,298,472 shares of the company’s stock valued at $989,649,000 after purchasing an additional 232,436 shares in the last quarter. Finally, AustralianSuper Pty Ltd acquired a new position in shares of SPX Technologies during the 3rd quarter worth approximately $41,092,000. 92.82% of the stock is owned by institutional investors.

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.