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

SPX Technologies, Inc. (NYSE:SPXC)’s stock price reached 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 changing hands. The stock had previously closed at $122.34.

Analysts Set New Price Targets

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

SPX Technologies Stock Down 1.1 %

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 firm’s 50-day simple moving average is $140.96 and its 200 day simple moving average is $152.30. The stock has a market capitalization of $5.61 billion, a P/E ratio of 32.31, a PEG ratio of 1.33 and a beta of 1.22.

Hedge Funds Weigh In On SPX Technologies

A number of large investors have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in SPX Technologies by 123.3% in the 4th quarter. Allworth Financial LP now owns 163 shares of the company’s stock valued at $25,000 after purchasing an additional 90 shares during the period. Empowered Funds LLC bought a new stake in shares of SPX Technologies in the fourth quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in SPX Technologies by 377.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191 shares of the company’s stock worth $29,000 after acquiring an additional 151 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in SPX Technologies by 2,055.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 194 shares of the company’s stock valued at $28,000 after purchasing an additional 185 shares during the period. Finally, Covestor Ltd increased its holdings in shares of SPX Technologies by 313.8% during the fourth quarter. Covestor Ltd now owns 389 shares of the company’s stock worth $57,000 after purchasing an additional 295 shares during the period. 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.