SPX Technologies, Inc. (NYSE:SPXC) has received an average price target of $199.00 from nine brokerages currently covering its stock, reflecting a consensus rating of “Moderate Buy.” According to Marketbeat, the breakdown of ratings includes three analysts recommending a hold, five endorsing a buy, and one assigning a strong buy.
In a recent analysis, Truist Financial initiated coverage on SPX Technologies, issuing a hold rating with a price target of $209.00 on October 20, 2023. Meanwhile, UBS Group raised its price objective from $182.00 to $210.00, maintaining a buy rating as of August 1, 2023. Other firms have also weighed in; Bank of America began coverage, setting a neutral rating with a price target of $202.00 on October 8, 2023. Additionally, Oppenheimer increased their target from $170.00 to $197.00, labeling the stock as outperform in a report dated July 8, 2023.
Stock Performance and Financial Indicators
On Thursday, SPX Technologies shares opened at $194.58. Over the past twelve months, the stock has experienced a low of $115.00 and a high of $209.38. The company boasts a market capitalization of $9.10 billion and a price-to-earnings (P/E) ratio of 43.73. Additional financial metrics include a PEG ratio of 1.98 and a beta of 1.37. The business displays a current ratio of 1.97, a quick ratio of 1.28, and a debt-to-equity ratio of 0.62.
SPX Technologies last reported its quarterly earnings on July 31, 2023, revealing an earnings per share (EPS) of $1.65, which exceeded analysts’ consensus estimate of $1.45 by $0.20. The firm achieved a revenue of $552.40 million, surpassing the forecast of $546.03 million and marking a 10.2% increase compared to the previous year’s quarter. The company has set its fiscal year 2025 guidance at 6.350-6.650 EPS, with analysts predicting an EPS of 5.57 for the current year.
Company Overview
SPX Technologies, Inc. specializes in providing infrastructure equipment for the heating, ventilation, and cooling (HVAC) sectors, as well as the detection and measurement markets globally. The organization operates through two primary segments: HVAC and Detection and Measurement. The HVAC segment focuses on engineering, designing, manufacturing, installing, and servicing package and process cooling products, along with engineered air movement solutions for industrial and power generation applications. Additionally, it offers heating and ventilation products tailored for residential and commercial use.
This recent analysis and updated ratings reflect the growing confidence among analysts in SPX Technologies’ performance and future prospects within the infrastructure equipment industry.
