UBS AG Boosts SPX Corporation (NASDAQ:SPXC) Price Target to $39.00

SPX Corporation (NYSE:SPXC) had its target price hoisted by UBS AG from $36.00 to $39.00 in a research report released on Friday, November 3rd, www.benzinga.com reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on SPXC. cut SPX Corporation from a buy rating to a hold rating in a research report on Wednesday, October 4th. raised SPX Corporation from a hold rating to a buy rating in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $37.00.

SPX Corporation (NYSE:SPXC) opened at $30.23 on Friday. The firm has a market capitalization of $1,281.69, a PE ratio of 16.09 and a beta of 1.70. SPX Corporation has a twelve month low of $21.54 and a twelve month high of $32.71. The company has a quick ratio of 0.81, a current ratio of 1.15 and a debt-to-equity ratio of 1.22.

SPX Corporation (NYSE:SPXC) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The business had revenue of $348.50 million during the quarter, compared to analysts’ expectations of $343.12 million. SPX Corporation had a positive return on equity of 37.49% and a negative net margin of 3.86%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. sell-side analysts forecast that SPX Corporation will post 1.8 earnings per share for the current fiscal year.

WARNING: This report was first posted by Week Herald and is owned by of Week Herald. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://weekherald.com/2017/11/15/spx-corp-spxc-price-target-raised-to-39-00.html.

In related news, CAO Michael Andrew Reilly sold 3,833 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $30.59, for a total value of $117,251.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SPXC. BlackRock Inc. raised its stake in SPX Corporation by 54,864.3% during the first quarter. BlackRock Inc. now owns 5,510,723 shares of the company’s stock worth $133,635,000 after acquiring an additional 5,500,697 shares in the last quarter. Rothschild Asset Management Inc. grew its holdings in shares of SPX Corporation by 506.5% during the third quarter. Rothschild Asset Management Inc. now owns 1,168,111 shares of the company’s stock worth $34,272,000 after purchasing an additional 975,500 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of SPX Corporation by 12.1% during the second quarter. Vanguard Group Inc. now owns 4,231,505 shares of the company’s stock worth $106,465,000 after purchasing an additional 455,828 shares during the last quarter. Evercore Trust Company N.A. bought a new stake in shares of SPX Corporation during the second quarter worth $8,396,000. Finally, Sei Investments Co. grew its holdings in shares of SPX Corporation by 538.5% during the third quarter. Sei Investments Co. now owns 240,676 shares of the company’s stock worth $7,062,000 after purchasing an additional 202,984 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

About SPX Corporation

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.

Receive News & Ratings for SPX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply