SPX (NYSE:SPXC) Price Target Raised to $48.00

SPX (NYSE:SPXC) had its target price increased by Buckingham Research from $40.00 to $48.00 in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the stock.

Separately, Zacks Investment Research raised shares of SPX from a hold rating to a buy rating and set a $41.00 price target for the company in a research note on Friday, August 9th.

Shares of NYSE:SPXC opened at $40.39 on Friday. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 18.36 and a beta of 1.41. The company has a 50-day moving average price of $38.25 and a 200-day moving average price of $34.93. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.75. SPX has a 12 month low of $25.22 and a 12 month high of $41.78.



SPX (NYSE:SPXC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.52 by $0.15. The firm had revenue of $372.40 million during the quarter, compared to the consensus estimate of $354.65 million. SPX had a net margin of 4.21% and a return on equity of 26.81%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. As a group, research analysts forecast that SPX will post 2.7 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Hancock Whitney Corp bought a new position in SPX in the second quarter worth about $888,000. Atria Investments LLC bought a new position in SPX in the second quarter worth about $272,000. BlackRock Inc. raised its stake in SPX by 2.8% in the second quarter. BlackRock Inc. now owns 6,435,989 shares of the company’s stock worth $212,517,000 after buying an additional 173,894 shares in the last quarter. Royal Bank of Canada raised its stake in SPX by 15.0% in the second quarter. Royal Bank of Canada now owns 59,298 shares of the company’s stock worth $1,958,000 after buying an additional 7,748 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in SPX by 11.6% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,037,204 shares of the company’s stock worth $212,165,000 after buying an additional 107,647 shares in the last quarter. 87.25% of the stock is owned by institutional investors.

SPX Company Profile

SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (HVAC), detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. It operates in three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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