Susquehanna Bancshares set a $32.00 price objective on SPX (NYSE:SPXC) in a research note released on Friday. The firm currently has a hold rating on the stock.
Several other brokerages have also recently issued reports on SPXC. Zacks Investment Research cut SPX from a hold rating to a strong sell rating in a research note on Friday, January 5th. UBS Group initiated coverage on SPX in a research note on Tuesday, January 23rd. They issued a buy rating and a $41.00 price target for the company. ValuEngine cut SPX from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, TheStreet upgraded SPX from a d+ rating to a c rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $36.00.
Shares of SPX (NYSE:SPXC) opened at $30.94 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.37 and a quick ratio of 1.06. The stock has a market capitalization of $1,318.33, a P/E ratio of 15.32 and a beta of 1.64. SPX has a 12 month low of $21.97 and a 12 month high of $33.93.
SPX (NYSE:SPXC) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $387.00 million during the quarter, compared to the consensus estimate of $396.35 million. SPX had a net margin of 6.26% and a return on equity of 31.70%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. research analysts predict that SPX will post 2.1 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPXC. Wells Fargo & Company MN lifted its stake in SPX by 10.5% during the second quarter. Wells Fargo & Company MN now owns 46,186 shares of the company’s stock worth $1,162,000 after purchasing an additional 4,398 shares during the last quarter. Alliancebernstein L.P. lifted its stake in SPX by 4.5% during the second quarter. Alliancebernstein L.P. now owns 53,935 shares of the company’s stock worth $1,357,000 after purchasing an additional 2,300 shares during the last quarter. New York State Common Retirement Fund lifted its stake in SPX by 5.6% during the second quarter. New York State Common Retirement Fund now owns 45,600 shares of the company’s stock worth $1,147,000 after purchasing an additional 2,399 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in SPX by 45.0% during the second quarter. UBS Asset Management Americas Inc. now owns 12,565 shares of the company’s stock worth $316,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in SPX by 4.6% during the second quarter. Northern Trust Corp now owns 553,246 shares of the company’s stock worth $13,919,000 after purchasing an additional 24,280 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.
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SPX Corporation is a global supplier of infrastructure equipment. The Company operates through three segments: HVAC; Detection and Measurement, and Engineered Solutions. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.
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