SPX Technologies (NYSE:SPXC) Price Target Raised to $272.00

SPX Technologies (NYSE:SPXC) had its target price boosted by Oppenheimer from $240.00 to $272.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of SPX Technologies in a research report on Monday, December 29th. Wells Fargo & Company raised their price target on SPX Technologies from $220.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday. B. Riley Financial restated a “buy” rating and set a $244.00 target price (up from $225.00) on shares of SPX Technologies in a research report on Wednesday, December 10th. Truist Financial lifted their price objective on SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $249.29.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $227.00 on Wednesday. The firm has a market cap of $11.32 billion, a P/E ratio of 45.31, a P/E/G ratio of 1.59 and a beta of 1.32. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.70 and a current ratio of 2.48. SPX Technologies has a one year low of $115.00 and a one year high of $246.68. The firm’s 50 day moving average price is $218.13 and its 200-day moving average price is $204.85.

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

Insider Buying and Selling at SPX Technologies

In other news, insider J Randall Data sold 12,000 shares of the business’s 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 sale, the insider directly owned 38,020 shares of the company’s stock, valued at $8,188,367.40. The trade was a 23.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in SPX Technologies by 316.0% during the fourth quarter. Pacer Advisors Inc. now owns 10,770 shares of the company’s stock worth $2,155,000 after acquiring an additional 8,181 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of SPX Technologies in the 4th quarter valued at about $3,797,000. Cambient Family Office LLC acquired a new position in shares of SPX Technologies in the 4th quarter valued at about $206,000. Compound Planning Inc. purchased a new stake in shares of SPX Technologies during the 4th quarter worth about $312,000. Finally, State of Tennessee Department of Treasury increased its position in SPX Technologies by 16.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 25,370 shares of the company’s stock worth $5,287,000 after purchasing an additional 3,533 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

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.