SPX Technologies (NYSE:SPXC) Upgraded by Sidoti to “Buy” Rating

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

A number of other equities research analysts have also recently weighed in on the stock. UBS Group cut their price objective on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Wolfe Research assumed coverage on SPX Technologies in a research note on Monday, November 25th. They issued an “outperform” rating and a $199.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SPX Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $174.75.

SPX Technologies Price Performance

Shares of SPXC stock opened at $151.83 on Wednesday. The business’s fifty day moving average is $147.09 and its 200 day moving average is $155.51. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 1.33 and a beta of 1.29. SPX Technologies has a twelve month low of $110.61 and a twelve month high of $183.83.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors have recently made changes to their positions in SPXC. Armis Advisers LLC bought a new position in SPX Technologies in the 4th quarter valued at approximately $319,000. Palisades Investment Partners LLC raised its stake in shares of SPX Technologies by 9.9% in the fourth quarter. Palisades Investment Partners LLC now owns 112,097 shares of the company’s stock worth $16,312,000 after purchasing an additional 10,109 shares during the last quarter. Twinbeech Capital LP bought a new position in shares of SPX Technologies during the fourth quarter valued at $1,931,000. Two Sigma Investments LP boosted its position in shares of SPX Technologies by 90.8% during the fourth quarter. Two Sigma Investments LP now owns 13,607 shares of the company’s stock valued at $1,980,000 after buying an additional 6,475 shares during the last quarter. Finally, Tidal Investments LLC raised its position in SPX Technologies by 10.2% in the 4th quarter. Tidal Investments LLC now owns 3,336 shares of the company’s stock worth $485,000 after buying an additional 310 shares during the last quarter. Hedge funds and other 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.