SPX Technologies (NYSE:SPXC – Get Rating) had its price objective raised by Oppenheimer from $82.00 to $85.00 in a research report issued on Friday, The Fly reports. Oppenheimer’s price objective indicates a potential upside of 14.71% from the company’s previous close.
SPXC has been the topic of several other reports. William Blair started coverage on SPX Technologies in a research report on Monday, April 17th. They set an “outperform” rating on the stock. TheStreet lowered SPX Technologies from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Finally, StockNews.com initiated coverage on SPX Technologies in a research report on Thursday, March 16th. They issued a “hold” rating for the company.
SPX Technologies Price Performance
Shares of NYSE SPXC opened at $74.10 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.16 and a quick ratio of 1.43. The stock has a fifty day moving average price of $67.89 and a 200 day moving average price of $68.68. SPX Technologies has a 1-year low of $44.13 and a 1-year high of $78.30. The company has a market cap of $3.37 billion, a PE ratio of -7,410,000.00, a P/E/G ratio of 0.98 and a beta of 1.24.
SPX Technologies (NYSE:SPXC – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.33. The business had revenue of $399.80 million during the quarter, compared to the consensus estimate of $329.78 million. SPX Technologies had a return on equity of 15.48% and a net margin of 2.03%. The business’s revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 EPS. Sell-side analysts forecast that SPX Technologies will post 3.49 EPS for the current year.
Insider Transactions at SPX Technologies
In related news, VP John Webster Nurkin sold 11,131 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $71.46, for a total value of $795,421.26. Following the sale, the vice president now owns 88,196 shares of the company’s stock, valued at approximately $6,302,486.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider J Randall Data sold 12,500 shares of the business’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $70.22, for a total transaction of $877,750.00. Following the completion of the sale, the insider now owns 79,624 shares in the company, valued at $5,591,197.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP John Webster Nurkin sold 11,131 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $71.46, for a total value of $795,421.26. Following the sale, the vice president now owns 88,196 shares of the company’s stock, valued at approximately $6,302,486.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,457 shares of company stock valued at $3,626,421. 4.02% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On SPX Technologies
Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio raised its position in shares of SPX Technologies by 67.0% during the fourth quarter. Strs Ohio now owns 16,700 shares of the company’s stock worth $1,096,000 after acquiring an additional 6,700 shares during the last quarter. Wakefield Asset Management LLLP bought a new stake in SPX Technologies in the third quarter valued at about $690,000. Moody National Bank Trust Division bought a new stake in SPX Technologies in the fourth quarter valued at about $792,000. Lazard Asset Management LLC bought a new stake in SPX Technologies in the third quarter valued at about $82,000. Finally, Maryland State Retirement & Pension System bought a new stake in SPX Technologies in the fourth quarter valued at about $1,221,000. Institutional investors own 92.06% of the company’s stock.
About SPX Technologies
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SPX Technologies, Inc engages in the supply of infrastructure equipment. It operates through the HVAC and Detection and Measurement segments. The HVAC segment engineers, designs, manufactures, installs, and services cooling products and engineered air quality solutions to the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets.
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