SPX Technologies (NYSE:SPXC) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

SPX Technologies (NYSE:SPXC) announced its quarterly earnings results on Tuesday. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01, Zacks reports. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%.

SPX Technologies Price Performance

Shares of NYSE:SPXC traded up $2.75 during trading on Tuesday, reaching $136.31. The stock had a trading volume of 358,570 shares, compared to its average volume of 299,182. The business has a fifty day moving average price of $147.29 and a 200-day moving average price of $155.62. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. The stock has a market cap of $6.32 billion, a PE ratio of 36.64, a PEG ratio of 1.33 and a beta of 1.29. SPX Technologies has a 1-year low of $107.23 and a 1-year high of $183.83.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SPXC shares. Wolfe Research began coverage on shares of SPX Technologies in a research note on Monday, November 25th. They set an “outperform” rating and a $199.00 target price on the stock. Sidoti cut SPX Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $187.00 to $175.00 in a research report on Friday, December 6th. Finally, UBS Group dropped their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SPX Technologies has a consensus rating of “Hold” and an average price target of $168.50.

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.