SPX Corp (SPXC) Given Average Rating of “Hold” by Brokerages

SPX Corp (NASDAQ:SPXC) has been given an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Zacks has also given SPX Corp an industry rank of 186 out of 265 based on the ratings given to its competitors.

SPXC has been the topic of a number of research analyst reports. BidaskClub raised shares of SPX Corp from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. UBS AG increased their price objective on shares of SPX Corp from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Friday. Finally, Zacks Investment Research lowered shares of SPX Corp from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th.

Large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in SPX Corp by 54,864.3% during the 1st 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 during the last quarter. Great West Life Assurance Co. Can lifted its position in SPX Corp by 7.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 61,277 shares of the company’s stock valued at $1,541,000 after purchasing an additional 4,150 shares during the period. Kennedy Capital Management Inc. lifted its position in SPX Corp by 221.3% during the 2nd quarter. Kennedy Capital Management Inc. now owns 195,382 shares of the company’s stock valued at $4,916,000 after purchasing an additional 134,563 shares during the period. First Trust Advisors LP acquired a new position in SPX Corp during the 2nd quarter valued at about $5,020,000. Finally, Systematic Financial Management LP acquired a new position in SPX Corp during the 2nd quarter valued at about $1,609,000.

SPX Corp (SPXC) traded up $2.42 on Friday, hitting $31.47. 121,904 shares of the stock traded hands.

SPX Corp (NASDAQ:SPXC) last posted its earnings results on Thursday, November 2nd. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.08. SPX Corp had a negative net margin of 2.37% and a negative return on equity of 15.86%. The business had revenue of $348.50 million for the quarter, compared to analyst estimates of $343.12 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year.

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About SPX Corp

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.

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