Fintel reports that on August 3, 2023, Oppenheimer maintained coverage of SPX Technologies (NYSE:SPXC) with a Outperform recommendation.
Analyst Price Forecast Suggests 5.91% Upside
As of August 2, 2023, the average one-year price target for SPX Technologies is 93.84. The forecasts range from a low of 90.90 to a high of $98.70. The average price target represents an increase of 5.91% from its latest reported closing price of 88.60.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SPX Technologies is 1,543MM, a decrease of 4.92%. The projected annual non-GAAP EPS is 3.49.
What is the Fund Sentiment?
There are 564 funds or institutions reporting positions in SPX Technologies. This is an increase of 27 owner(s) or 5.03% in the last quarter. Average portfolio weight of all funds dedicated to SPXC is 0.23%, an increase of 0.31%. Total shares owned by institutions decreased in the last three months by 1.53% to 47,983K shares. 
The put/call ratio of SPXC is 0.09, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 4,013K shares representing 8.81% ownership of the company. In it's prior filing, the firm reported owning 4,265K shares, representing a decrease of 6.28%. The firm decreased its portfolio allocation in SPXC by 5.48% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,291K shares representing 7.23% ownership of the company. In it's prior filing, the firm reported owning 3,348K shares, representing a decrease of 1.74%. The firm increased its portfolio allocation in SPXC by 2.67% over the last quarter.
Earnest Partners holds 2,177K shares representing 4.78% ownership of the company. In it's prior filing, the firm reported owning 2,186K shares, representing a decrease of 0.42%. The firm increased its portfolio allocation in SPXC by 1.02% over the last quarter.
Ameriprise Financial holds 1,391K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 1,676K shares, representing a decrease of 20.50%. The firm decreased its portfolio allocation in SPXC by 14.64% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,340K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 1,312K shares, representing an increase of 2.13%. The firm increased its portfolio allocation in SPXC by 1.43% over the last quarter.
SPX Technologies Background Information
(This description is provided by the company.)
SPX Corporation is, along with its subsidiaries, a diversified, global supplier of infrastructure equipment with scalable growth platforms in heating, ventilation and air conditioning (HVAC), detection and measurement, and engineered solutions. With operations in 17 countries and approximately $1.4 billion in annual revenue, the company offers a wide array of highly engineered products with strong brands.
Additional reading:
- SPX Technologies Reports Second Quarter 2023 Results Q2 GAAP EPS of $0.82; Adjusted EPS* of $1.06 Raising Full-Year 2023 Adjusted EPS* Guidance to Range of $4.15-4.30
- Incremental Facility Activation Notice dated as of April 21, 2023 among SPX Enterprises, LLC, as the U.S. Borrower, Bank of America, N.A., as the Administrative Agent, and the 2023 Incremental Term Loan Lenders party thereto
- Agreement and Plan of Merger, dated as of April 28, 2023, by and among, SPX Enterprises, LLC, SPX Electric Heat, Inc., ASPEQ Parent Holdings, Inc., and Industrial Growth Partners V, L.P
- SPX Technologies Reports First Quarter 2023 Results Q1 GAAP EPS of $0.84; Adjusted EPS* of $0.93 Strong Demand and Execution in HVAC Updating 2023 Full-Year Adjusted EPS* Guidance to Range of $3.80 to $3.95
- 1
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
