SPX Technologies (NYSE:SPXC) Coverage Initiated at Wolfe Research

Stock analysts at Wolfe Research started coverage on shares of SPX Technologies (NYSE:SPXC) in a report released on Monday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $199.00 price target on the stock. Wolfe Research’s price objective points to a potential upside of 13.06% from the company’s previous close.

SPX Technologies Stock Up 2.0 %

Shares of NYSE SPXC opened at $176.01 on Monday. The firm’s fifty day moving average is $161.84 and its 200 day moving average is $151.25. SPX Technologies has a 52 week low of $83.98 and a 52 week high of $176.35. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 1.76 and a beta of 1.22.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The company had revenue of $483.70 million for the quarter, compared to the consensus estimate of $501.02 million. During the same quarter in the previous year, the business earned $1.06 EPS. SPX Technologies’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that SPX Technologies will post 5.56 earnings per share for the current year.

Institutional Trading of SPX Technologies

Several large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of SPX Technologies in the 3rd quarter worth about $28,000. Crewe Advisors LLC purchased a new stake in SPX Technologies in the second quarter worth about $28,000. Canada Pension Plan Investment Board bought a new stake in SPX Technologies during the 2nd quarter valued at approximately $28,000. UMB Bank n.a. boosted its position in SPX Technologies by 965.0% during the 2nd quarter. UMB Bank n.a. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 193 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in shares of SPX Technologies during the 3rd quarter worth approximately $44,000. Institutional investors own 92.82% of the company’s stock.

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.