SPX Technologies, Inc. (NYSE:SPXC – Get Rating) – Oppenheimer upped their FY2022 EPS estimates for shares of SPX Technologies in a research note issued to investors on Thursday, September 29th. Oppenheimer analyst B. Blair now expects that the company will post earnings per share of $2.82 for the year, up from their previous estimate of $2.80. Oppenheimer currently has a "Buy" rating and a $72.00 price target on the stock. The consensus estimate for SPX Technologies' current full-year earnings is $2.84 per share.
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SPXC has been the topic of a number of other research reports. TheStreet upgraded shares of SPX Technologies from a "c" rating to a "b-" rating in a research report on Tuesday, July 19th. StockNews.com upgraded shares of SPX Technologies from a "hold" rating to a "buy" rating in a research report on Monday, August 8th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.00.
SPX Technologies Stock Performance
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 firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 7.11, a P/E/G ratio of 1.08 and a beta of 1.23. The firm's 50 day simple moving average is $58.32 and its 200 day simple moving average is $52.55. 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 posted its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.10. The business had revenue of $354.00 million for the quarter, compared to analyst estimates of $341.43 million. SPX Technologies had a net margin of 27.91% and a return on equity of 10.25%.
Hedge Funds Weigh In On SPX Technologies
Large investors have recently modified their holdings of the business. Teacher Retirement System of Texas raised its stake in shares of SPX Technologies by 7.5% during the first quarter. Teacher Retirement System of Texas now owns 9,423 shares of the company's stock valued at $466,000 after acquiring an additional 657 shares during the last quarter. State Street Corp raised its stake in shares of SPX Technologies by 2.8% during the fourth quarter. State Street Corp now owns 1,547,751 shares of the company's stock valued at $92,370,000 after acquiring an additional 42,505 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of SPX Technologies by 2.2% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,159,306 shares of the company's stock valued at $69,190,000 after acquiring an additional 25,353 shares during the last quarter. Ellevest Inc. raised its stake in shares of SPX Technologies by 140.4% during the first quarter. Ellevest Inc. now owns 6,115 shares of the company's stock valued at $302,000 after acquiring an additional 3,571 shares during the last quarter. Finally, Royce & Associates LP bought a new position in shares of SPX Technologies during the first quarter valued at $566,000. Institutional investors own 86.84% of the company's stock.
Insider Buying and Selling at SPX Technologies
In other SPX Technologies news, insider John William Swann III sold 9,365 shares of the firm's stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $55.00, for a total value of $515,075.00. Following the sale, the insider now owns 83,472 shares in the company, valued at $4,590,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company's stock.
About SPX Technologies
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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.
Further Reading
- Get a free copy of the StockNews.com research report on SPX Technologies (SPXC)
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