SPX Technologies (NYSE:SPXC) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of SPX Technologies (NYSE:SPXC) to a strong-buy rating in a report issued on Monday,Zacks reports.

Other analysts have also recently issued research reports about the stock. Vertical Research assumed coverage on shares of SPX Technologies in a research note on Monday, September 28th. They set a “buy” rating and a $215.00 target price for the company. Wolfe Research initiated coverage on shares of SPX Technologies in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $250.00 price target on the stock. Oppenheimer lowered their price objective on SPX Technologies from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday, October 2nd. Zacks Research lowered SPX Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $250.00 target price on shares of SPX Technologies in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.18.

SPX Technologies Stock Down 2.8%

Shares of SPXC opened at $170.95 on Monday. The firm has a market cap of $8.56 billion, a P/E ratio of 30.75, a PEG ratio of 1.15 and a beta of 1.24. SPX Technologies has a 12 month low of $166.17 and a 12 month high of $251.08. The stock’s 50 day moving average is $194.44 and its two-hundred day moving average is $208.97. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.17. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. Analysts predict that SPX Technologies will post 8.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC raised its stake 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 valued at $286,000 after purchasing an additional 60 shares during the period. Compound Planning Inc. grew its stake in shares of SPX Technologies by 4.3% during the first quarter. Compound Planning Inc. now owns 1,625 shares of the company’s stock valued at $325,000 after acquiring an additional 67 shares in the last quarter. Parallel Advisors LLC increased its position in shares of SPX Technologies by 38.1% during the first quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of SPX Technologies by 24.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 557 shares of the company’s stock valued at $111,000 after purchasing an additional 110 shares in the last quarter. Finally, Group One Trading LLC bought a new position in SPX Technologies during the 2nd quarter valued at $32,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Company Profile

SPX Technologies, Inc is a diversified industrial technology company headquartered in Charlotte, North Carolina. The company designs, manufactures and services highly engineered products and solutions used by customers in the heating, ventilation and air-conditioning (HVAC), infrastructure and industrial markets.

SPX’s HVAC businesses provide cooling towers, evaporative and air-cooled cooling systems, boilers, heat-transfer equipment, air-handling products and related services. Its brands include Marley, Recold, Weil-McLain, Patterson-Kelley, Berko and QMark.