Oppenheimer Increases SPX Technologies (NYSE:SPXC) Price Target to $140.00

SPX Technologies (NYSE:SPXC) had its target price lifted by Oppenheimer from $134.00 to $140.00 in a research report sent to investors on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on SPXC. StockNews.com cut SPX Technologies from a buy rating to a hold rating in a report on Friday, March 15th. UBS Group lifted their price target on SPX Technologies from $90.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday, March 27th.

SPX Technologies Stock Up 2.5 %

Shares of NYSE SPXC opened at $134.27 on Friday. SPX Technologies has a 52-week low of $70.84 and a 52-week high of $135.90. The company has a quick ratio of 0.70, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $119.49 and its 200-day simple moving average is $103.68. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 65.50, a price-to-earnings-growth ratio of 1.35 and a beta of 1.24.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.06 by $0.19. SPX Technologies had a return on equity of 18.18% and a net margin of 5.32%. The firm had revenue of $465.20 million during the quarter, compared to analysts’ expectations of $454.05 million. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities analysts predict that SPX Technologies will post 5.38 EPS for the current fiscal year.

Insider Activity at SPX Technologies

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 27,048 shares of SPX Technologies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the completion of the sale, the chief executive officer now directly owns 597,936 shares in the company, valued at $69,049,649.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Eugene Joseph Lowe III sold 27,048 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $115.48, for a total transaction of $3,123,503.04. Following the completion of the transaction, the chief executive officer now directly owns 597,936 shares in the company, valued at approximately $69,049,649.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John William Swann III sold 32,325 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the sale, the insider now owns 82,884 shares in the company, valued at $9,747,987.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,373 shares of company stock worth $10,962,146. Company insiders own 3.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. YHB Investment Advisors Inc. purchased a new stake in shares of SPX Technologies during the first quarter worth approximately $51,000. Palisade Asset Management LLC acquired a new stake in shares of SPX Technologies in the 1st quarter valued at $74,000. TFO Wealth Partners LLC grew its stake in shares of SPX Technologies by 58,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,170 shares of the company’s stock worth $118,000 after purchasing an additional 1,168 shares in the last quarter. Quadrant Capital Group LLC raised its stake in SPX Technologies by 54.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,340 shares of the company’s stock valued at $135,000 after buying an additional 475 shares in the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of SPX Technologies during the 1st quarter worth about $203,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. 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, heating, and ventilation products for the residential and commercial markets.