SPX Technologies (NYSE:SPXC) Lowered to Hold at StockNews.com

StockNews.com lowered shares of SPX Technologies (NYSE:SPXCGet Rating) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Separately, Oppenheimer reissued a buy rating and issued a $72.00 price objective on shares of SPX Technologies in a report on Thursday, September 29th.

SPX Technologies Stock Performance

Shares of SPXC opened at $70.24 on Tuesday. The stock has a 50-day moving average of $62.23 and a two-hundred day moving average of $57.22. SPX Technologies has a one year low of $41.66 and a one year high of $75.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 2.24. The stock has a market cap of $3.17 billion, a P/E ratio of 94.92, a P/E/G ratio of 1.35 and a beta of 1.21.

SPX Technologies (NYSE:SPXCGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.15. The business had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $352.00 million. SPX Technologies had a return on equity of 11.87% and a net margin of 2.45%. As a group, research analysts predict that SPX Technologies will post 2.91 EPS for the current year.

Insider Activity at SPX Technologies

In related news, VP Natausha Heleena White sold 10,190 shares of SPX Technologies stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $69.83, for a total value of $711,567.70. Following the completion of the transaction, the vice president now owns 33,518 shares in the company, valued at approximately $2,340,561.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On SPX Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. New Century Advisors LLC increased its stake in SPX Technologies by 62.7% during the 3rd quarter. New Century Advisors LLC now owns 506 shares of the company’s stock worth $28,000 after buying an additional 195 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in SPX Technologies during the 1st quarter worth approximately $35,000. Quent Capital LLC increased its stake in SPX Technologies by 38.4% during the 1st quarter. Quent Capital LLC now owns 1,060 shares of the company’s stock worth $52,000 after buying an additional 294 shares in the last quarter. Assetmark Inc. increased its stake in SPX Technologies by 486.5% during the 2nd quarter. Assetmark Inc. now owns 1,349 shares of the company’s stock worth $71,000 after buying an additional 1,119 shares in the last quarter. Finally, MCF Advisors LLC purchased a new stake in SPX Technologies during the 1st quarter worth approximately $79,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.

SPX Technologies Company Profile

(Get Rating)

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers and comfort heating and ventilation products for the residential and commercial markets.

Featured Stories

Receive News & Ratings for SPX Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX Technologies and related companies with MarketBeat.com's FREE daily email newsletter.