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SPX Technologies (NYSE:SPXC) Stock Price Passes Below 50 Day Moving Average of $57.97

Defense World · Sep 17, 2022 03:51

SPX Technologies, Inc. (NYSE:SPXC – Get Rating) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $57.97 and traded as low as $54.88. SPX Technologies shares last traded at $55.84, with a volume of 493,500 shares traded.

Analyst Ratings Changes

SPXC has been the subject of several research reports. TheStreet upgraded shares of SPX Technologies from a "c" rating to a "b-" rating in a research note on Tuesday, July 19th. StockNews.com upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a research note on Monday, August 8th.

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SPX Technologies Stock Down 2.1 %

The firm has a market capitalization of $2.52 billion, a PE ratio of 7.19, a P/E/G ratio of 1.12 and a beta of 1.23. The firm's 50 day moving average price is $57.97 and its two-hundred day moving average price is $52.06. The company has a quick ratio of 1.47, a current ratio of 2.11 and a debt-to-equity ratio of 0.21.

SPX Technologies (NYSE:SPXC – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.10. The business had revenue of $354.00 million during the quarter, compared to the consensus estimate of $341.43 million. SPX Technologies had a net margin of 27.91% and a return on equity of 10.25%. As a group, research analysts forecast that SPX Technologies, Inc. will post 2.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John William Swann III sold 12,422 shares of the stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $55.10, for a total value of $684,452.20. Following the sale, the insider now owns 83,472 shares of the company's stock, valued at approximately $4,599,307.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can grew its position in SPX Technologies by 0.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,156 shares of the company's stock valued at $1,982,000 after buying an additional 232 shares in the last quarter. Synovus Financial Corp boosted its position in shares of SPX Technologies by 2.0% during the 2nd quarter. Synovus Financial Corp now owns 12,578 shares of the company's stock valued at $665,000 after purchasing an additional 250 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of SPX Technologies by 7.1% during the 1st quarter. HighTower Advisors LLC now owns 4,367 shares of the company's stock valued at $216,000 after purchasing an additional 290 shares in the last quarter. Quent Capital LLC boosted its position in shares of SPX Technologies by 38.4% during the 1st quarter. Quent Capital LLC now owns 1,060 shares of the company's stock valued at $52,000 after purchasing an additional 294 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of SPX Technologies by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,543 shares of the company's stock valued at $323,000 after purchasing an additional 339 shares in the last quarter. Institutional investors own 86.84% of the company's stock.

SPX Technologies Company Profile

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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.