SPX Technologies (NYSE:SPXC) Hits New 1-Year Low – What’s Next?

Shares of SPX Technologies, Inc. (NYSE:SPXC) hit a new 52-week low on Monday . The stock traded as low as $116.02 and last traded at $118.00, with a volume of 290 shares traded. The stock had previously closed at $122.34.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Oppenheimer upgraded SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, UBS Group lowered their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, SPX Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $174.75.

SPX Technologies Trading Down 1.1 %

The company has a market cap of $5.61 billion, a P/E ratio of 32.31, a PEG ratio of 1.33 and a beta of 1.22. The firm’s 50 day moving average is $140.96 and its two-hundred day moving average is $152.30. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPXC. Allworth Financial LP raised its stake in SPX Technologies by 123.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $25,000 after buying an additional 90 shares during the last quarter. Empowered Funds LLC bought a new position in shares of SPX Technologies during the 4th quarter worth approximately $27,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of SPX Technologies by 2,055.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock worth $28,000 after buying an additional 185 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SPX Technologies by 377.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares during the period. Finally, Spire Wealth Management bought a new stake in SPX Technologies in the 4th quarter valued at about $57,000. 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.