SPX (NYSE:SPXC) Hits New 52-Week High at $41.83

SPX Corp (NYSE:SPXC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.83 and last traded at $41.43, with a volume of 1099 shares trading hands. The stock had previously closed at $40.91.

A number of analysts recently issued reports on SPXC shares. Zacks Investment Research lowered SPX from a “buy” rating to a “hold” rating in a research note on Thursday. Sidoti began coverage on SPX in a research note on Friday. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Buckingham Research upped their target price on SPX from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, September 20th.

The firm has a market capitalization of $1.83 billion, a P/E ratio of 18.98 and a beta of 1.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.84 and a current ratio of 1.17. The business has a 50 day simple moving average of $39.43 and a two-hundred day simple moving average of $35.47.

SPX (NYSE:SPXC) last announced its earnings results on Thursday, August 1st. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.15. SPX had a return on equity of 26.81% and a net margin of 4.21%. The business had revenue of $372.40 million for the quarter, compared to analyst estimates of $354.65 million. During the same period in the prior year, the company earned $0.53 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that SPX Corp will post 2.7 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. boosted its holdings in SPX by 7.1% during the 2nd quarter. Raymond James Trust N.A. now owns 6,709 shares of the company’s stock valued at $222,000 after acquiring an additional 442 shares during the period. Janney Montgomery Scott LLC raised its position in SPX by 1.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 41,506 shares of the company’s stock valued at $1,371,000 after purchasing an additional 529 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in SPX by 24.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,708 shares of the company’s stock valued at $108,000 after purchasing an additional 538 shares during the last quarter. Squar Milner Financial Services LLC raised its position in SPX by 13.2% during the 2nd quarter. Squar Milner Financial Services LLC now owns 5,086 shares of the company’s stock valued at $168,000 after purchasing an additional 595 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in SPX by 3.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,406 shares of the company’s stock valued at $575,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

SPX Company Profile (NYSE:SPXC)

SPX Corporation supplies infrastructure equipment serving the heating, ventilation and cooling (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 in three segments: HVAC, Detection and Measurement, and Engineered Solutions.

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