SPX (NYSE:SPXC) Sets New 1-Year High at $49.70

SPX Corp (NYSE:SPXC) reached a new 52-week high on Friday . The stock traded as high as $49.70 and last traded at $49.66, with a volume of 7408 shares trading hands. The stock had previously closed at $48.51.

A number of analysts have recently issued reports on the company. Buckingham Research boosted their target price on SPX from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Zacks Investment Research raised shares of SPX from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, November 5th. Seaport Global Securities assumed coverage on shares of SPX in a report on Tuesday, October 22nd. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Sidoti initiated coverage on shares of SPX in a research report on Friday, October 18th. They set a “buy” rating and a $52.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $50.50.

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.21. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 22.61 and a beta of 1.44. The company’s fifty day moving average is $45.86 and its two-hundred day moving average is $38.09.

SPX (NYSE:SPXC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. SPX had a net margin of 5.18% and a return on equity of 27.82%. The firm had revenue of $364.80 million during the quarter, compared to analysts’ expectations of $353.48 million. During the same period in the prior year, the company earned $0.37 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, analysts forecast that SPX Corp will post 2.71 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of SPX by 2.8% in the second quarter. BlackRock Inc. now owns 6,435,989 shares of the company’s stock valued at $212,517,000 after buying an additional 173,894 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of SPX by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,519,311 shares of the company’s stock valued at $149,228,000 after buying an additional 27,328 shares during the period. Wells Fargo & Company MN lifted its position in SPX by 81.4% during the 2nd quarter. Wells Fargo & Company MN now owns 1,101,092 shares of the company’s stock worth $36,359,000 after acquiring an additional 493,932 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in SPX by 11.6% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,037,204 shares of the company’s stock worth $212,165,000 after acquiring an additional 107,647 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in SPX by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 610,353 shares of the company’s stock worth $20,154,000 after acquiring an additional 11,835 shares in the last quarter. 88.35% of the stock is owned by institutional investors.

SPX Company Profile (NYSE:SPXC)

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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