SPX (SPXC) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of SPX (NYSE:SPXC) from a sell rating to a hold rating in a report released on Monday morning.

Other analysts have also recently issued reports about the stock. Buckingham Research decreased their price target on shares of SPX from $41.00 to $37.00 and set a buy rating on the stock in a research note on Friday, November 2nd. Zacks Investment Research cut shares of SPX from a hold rating to a strong sell rating in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $37.75.

Shares of NYSE SPXC traded up $0.03 during mid-day trading on Monday, hitting $29.42. 4,205 shares of the stock were exchanged, compared to its average volume of 227,086. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 16.51 and a beta of 1.48. The company has a current ratio of 1.18, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. SPX has a twelve month low of $28.21 and a twelve month high of $39.28.

SPX (NYSE:SPXC) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.09). The firm had revenue of $362.50 million for the quarter, compared to analyst estimates of $348.90 million. SPX had a return on equity of 25.23% and a net margin of 6.79%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. On average, analysts forecast that SPX will post 2.15 earnings per share for the current year.

In other news, VP John Webster Nurkin sold 16,800 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $29.08, for a total transaction of $488,544.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in SPX by 533.6% in the third quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the company’s stock valued at $107,000 after acquiring an additional 2,716 shares during the last quarter. Squar Milner Financial Services LLC bought a new position in SPX in the second quarter valued at approximately $134,000. Aristotle Atlantic Partners LLC bought a new position in SPX in the second quarter valued at approximately $211,000. Crossmark Global Holdings Inc. bought a new position in SPX in the second quarter valued at approximately $213,000. Finally, Amalgamated Bank bought a new position in SPX in the second quarter valued at approximately $241,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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