SPX Technologies, Inc. (NYSE:SPXC) Expected to Earn FY2022 Earnings of $2.82 Per Share – MarketBeat

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SPX Technologies, Inc. (NYSE:SPXC – Get Rating) – Analysts at Oppenheimer lifted their FY2022 earnings per share estimates for SPX Technologies in a research note issued on Thursday, September 29th. Oppenheimer analyst B. Blair now expects that the company will post earnings per share of $2.82 for the year, up from their prior estimate of $2.80. Oppenheimer has a “Buy” rating and a $72.00 price target on the stock. The consensus estimate for SPX Technologies’ current full-year earnings is $2.83 per share.
Other analysts have also recently issued research reports about the company. TheStreet raised SPX Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, July 19th. StockNews.com raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, SPX Technologies presently has an average rating of “Moderate Buy” and an average target price of $72.00.

SPX Technologies Price Performance

SPXC opened at $55.16 on Friday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 1.09 and a beta of 1.23. SPX Technologies has a 1 year low of $41.66 and a 1 year high of $68.24. The company has a current ratio of 2.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $58.35 and a 200 day moving average price of $52.49.
SPX Technologies (NYSE:SPXC – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. The firm had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $341.43 million. SPX Technologies had a return on equity of 10.25% and a net margin of 27.91%.

Hedge Funds Weigh In On SPX Technologies

A number of institutional investors have recently made changes to their positions in SPXC. Fairfield Bush & CO. bought a new position in shares of SPX Technologies in the first quarter worth about $35,000. Quent Capital LLC bought a new position in shares of SPX Technologies in the fourth quarter worth about $46,000. Assetmark Inc. increased its stake in shares of SPX Technologies by 486.5% in the second quarter. Assetmark Inc. now owns 1,349 shares of the company’s stock worth $71,000 after purchasing an additional 1,119 shares during the period. MCF Advisors LLC bought a new position in SPX Technologies during the first quarter valued at about $79,000. Finally, First Bank & Trust bought a new position in SPX Technologies during the second quarter valued at about $116,000. 86.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider John William Swann III sold 9,365 shares of SPX Technologies stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $55.00, for a total value of $515,075.00. Following the transaction, the insider now directly owns 83,472 shares in the company, valued at $4,590,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

About SPX Technologies

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SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. 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 and comfort heating and ventilation products for the residential and commercial markets.

Further Reading

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