Zacks: Brokerages Set $23.00 Price Target for SPX Co. (SPXC)

SPX Co. (NASDAQ:SPXC) has been assigned a consensus broker rating score of 0.00 () from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Brokerages have set a twelve-month consensus price objective of $23.00 for the company and are expecting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also given SPX an industry rank of 173 out of 265 based on the ratings given to its competitors.

Several brokerages recently issued reports on SPXC. Zacks Investment Research raised shares of SPX from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 5th. TheStreet raised shares of SPX from a “sell” rating to a “hold” rating in a research note on Monday, November 21st.

Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of SPX by 8.1% in the third quarter. BlackRock Fund Advisors now owns 2,943,778 shares of the company’s stock valued at $59,288,000 after buying an additional 221,113 shares during the last quarter. BlackRock Inc. increased its position in shares of SPX by 0.6% in the third quarter. BlackRock Inc. now owns 11,367 shares of the company’s stock valued at $229,000 after buying an additional 63 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of SPX by 1.0% in the third quarter. BlackRock Advisors LLC now owns 56,407 shares of the company’s stock valued at $1,136,000 after buying an additional 552 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of SPX by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 468,100 shares of the company’s stock valued at $9,427,000 after buying an additional 10,080 shares during the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of SPX during the third quarter valued at about $530,000.

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SPX (NASDAQ:SPXC) opened at 25.02 on Thursday. The firm has a 50 day moving average of $25.21 and a 200 day moving average of $22.71. SPX has a 1-year low of $13.34 and a 1-year high of $28.13. The firm’s market cap is $1.06 billion.

SPX (NASDAQ:SPXC) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The business earned $395.30 million during the quarter, compared to analysts’ expectations of $467.56 million. During the same period last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was down 15.6% on a year-over-year basis. On average, equities research analysts expect that SPX will post $1.65 EPS for the current year.

SPX Company Profile

SPX Corporation is a diversified, global supplier of infrastructure equipment. The Company operates through three segments: heating, ventilation and air conditioning (HVAC); Detection and Measurement, and Power. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products.

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