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

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

SPX Technologies Stock Performance

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

Analyst Upgrades and Downgrades

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

About SPX Technologies

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.