Elkfork Partners LLC bought a new position in SPX Co. (NYSE:SPXC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,068 shares of the company’s stock, valued at approximately $159,000.
Other hedge funds have also recently modified their holdings of the company. OxFORD Asset Management LLP bought a new position in shares of SPX in the 3rd quarter worth $202,000. IFC Holdings Incorporated FL bought a new position in shares of SPX in the 4th quarter worth $207,000. Globeflex Capital L P bought a new position in shares of SPX in the 4th quarter worth $222,000. Xact Kapitalforvaltning AB bought a new position in shares of SPX in the 4th quarter worth $239,000. Finally, Invictus RG raised its position in shares of SPX by 32.2% in the 4th quarter. Invictus RG now owns 8,510 shares of the company’s stock worth $267,000 after acquiring an additional 2,073 shares in the last quarter. Institutional investors and hedge funds own 86.73% of the company’s stock.
Several research analysts have recently commented on the company. ValuEngine raised SPX from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered SPX from a “hold” rating to a “strong sell” rating in a research report on Friday, January 5th. Susquehanna Bancshares set a $32.00 price target on SPX and gave the stock a “hold” rating in a research report on Friday, February 16th. UBS began coverage on SPX in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $41.00 price target for the company. Finally, TheStreet raised SPX from a “c” rating to a “b-” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. SPX has an average rating of “Buy” and an average target price of $36.00.
Shares of NYSE:SPXC opened at $31.66 on Friday. SPX Co. has a 1 year low of $21.97 and a 1 year high of $33.93. The stock has a market cap of $1,387.02, a P/E ratio of 17.79 and a beta of 1.54. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 1.11.
SPX (NYSE:SPXC) last announced its earnings results on Thursday, February 15th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). SPX had a net margin of 6.26% and a return on equity of 31.70%. The business had revenue of $387.00 million for the quarter, compared to analyst estimates of $396.35 million. During the same period in the prior year, the company earned $0.69 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. research analysts expect that SPX Co. will post 2.1 EPS for the current fiscal year.
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SPX Company Profile
SPX Corporation supplies infrastructure equipment serving the heating and ventilation (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 through three segments: HVAC, Detection and Measurement, and Engineered Solutions.
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