SPX Technologies (NYSE:SPXC) Upgraded to Buy at Sidoti

Sidoti upgraded shares of SPX Technologies (NYSE:SPXC) from a neutral rating to a buy rating in a report released on Wednesday morning, MarketBeat Ratings reports.

Other analysts have also issued reports about the stock. Wolfe Research began coverage on shares of SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price objective for the company. UBS Group decreased their price target on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Stock Up 11.4 %

NYSE SPXC opened at $151.83 on Wednesday. The stock has a 50 day moving average price of $147.09 and a 200-day moving average price of $155.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies has a one year low of $110.61 and a one year high of $183.83. The company has a market capitalization of $7.04 billion, a P/E ratio of 40.81, a P/E/G ratio of 1.33 and a beta of 1.29.

Institutional Trading of SPX Technologies

Large investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its holdings in SPX Technologies by 212.5% in the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company’s stock valued at $3,786,000 after acquiring an additional 16,145 shares during the period. Barclays PLC lifted its stake in shares of SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company’s stock valued at $13,485,000 after buying an additional 63,373 shares during the period. Geode Capital Management LLC grew its position in shares of SPX Technologies by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,033,825 shares of the company’s stock valued at $164,888,000 after purchasing an additional 8,916 shares during the period. Nordea Investment Management AB lifted its holdings in shares of SPX Technologies by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 365,583 shares of the company’s stock worth $53,203,000 after acquiring an additional 17,324 shares during the period. Finally, Corsair Capital Management L.P. boosted its holdings in shares of SPX Technologies by 80,185.2% in the 3rd quarter. Corsair Capital Management L.P. now owns 114,005 shares of the company’s stock valued at $18,179,000 after purchasing an additional 113,863 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

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.