SPX Technologies, Inc. (NYSE:SPXC – Get Rating) – Investment analysts at Oppenheimer increased their FY2022 earnings per share (EPS) estimates for SPX Technologies in a report issued on Thursday, September 29th. Oppenheimer analyst B. Blair now forecasts that the company will post earnings per share of $2.82 for the year, up from their prior forecast of $2.80. Oppenheimer has a "Buy" rating and a $72.00 price target on the stock. The consensus estimate for SPX Technologies' current full-year earnings is $2.83 per share.
Get SPX Technologies alerts:A number of other equities research analysts also recently weighed in on the company. StockNews.com raised SPX Technologies from a "hold" rating to a "buy" rating in a report on Monday, August 8th. TheStreet raised SPX Technologies from a "c" rating to a "b-" rating in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.00.
SPX Technologies Stock Up 0.1 %
NYSE SPXC opened at $55.22 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average is $58.32 and its two-hundred day moving average is $52.53. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 1.09 and a beta of 1.23. SPX Technologies has a 1-year low of $41.66 and a 1-year high of $68.24.SPX Technologies (NYSE:SPXC – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.10. SPX Technologies had a return on equity of 10.25% and a net margin of 27.91%. The business had revenue of $354.00 million for the quarter, compared to the consensus estimate of $341.43 million.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of SPXC. Geode Capital Management LLC boosted its holdings in shares of SPX Technologies by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 740,215 shares of the company's stock worth $44,176,000 after acquiring an additional 32,506 shares in the last quarter. Nuveen Asset Management LLC raised its position in SPX Technologies by 18.7% in the 4th quarter. Nuveen Asset Management LLC now owns 736,390 shares of the company's stock worth $43,948,000 after purchasing an additional 115,860 shares during the last quarter. State Street Corp raised its position in SPX Technologies by 2.8% in the 4th quarter. State Street Corp now owns 1,547,751 shares of the company's stock worth $92,370,000 after purchasing an additional 42,505 shares during the last quarter. Commerce Bank raised its position in SPX Technologies by 42.7% in the 4th quarter. Commerce Bank now owns 11,080 shares of the company's stock worth $661,000 after purchasing an additional 3,315 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in SPX Technologies by 270.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 71,705 shares of the company's stock worth $4,279,000 after purchasing an additional 52,342 shares during the last quarter. 86.84% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at SPX Technologies
In other news, insider John William Swann III sold 9,365 shares of the business's stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $55.00, for a total value of $515,075.00. Following the transaction, the insider now directly owns 83,472 shares of the company's stock, valued at approximately $4,590,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% 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.
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