Sidoti started coverage on shares of SPX (NYSE:SPXC) in a research report report published on Friday morning, The Fly reports. The firm issued a buy rating and a $52.00 price objective on the stock.
Several other research analysts also recently weighed in on SPXC. Zacks Investment Research downgraded shares of SPX from a buy rating to a hold rating in a research report on Thursday. Buckingham Research lifted their target price on shares of SPX from $40.00 to $48.00 and gave the stock a buy rating in a research report on Friday, September 20th.
NYSE SPXC opened at $40.91 on Friday. The company’s 50 day simple moving average is $39.43 and its 200 day simple moving average is $35.47. The company has a market capitalization of $1.77 billion, a P/E ratio of 18.60 and a beta of 1.39. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.17 and a quick ratio of 0.84. SPX has a 12 month low of $25.22 and a 12 month high of $41.78.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in SPX during the second quarter valued at approximately $29,000. Public Employees Retirement System of Ohio purchased a new position in SPX during the second quarter valued at approximately $36,000. Robeco Institutional Asset Management B.V. bought a new stake in SPX in the third quarter worth approximately $58,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in SPX by 24.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,708 shares of the company’s stock worth $108,000 after acquiring an additional 538 shares in the last quarter. Finally, Squar Milner Financial Services LLC grew its position in SPX by 13.2% in the second quarter. Squar Milner Financial Services LLC now owns 5,086 shares of the company’s stock worth $168,000 after acquiring an additional 595 shares in the last quarter. 87.31% of the stock is currently owned by hedge funds and other 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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