SPX (SPXC) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of SPX (NYSE:SPXC) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other equities research analysts have also recently commented on the company. UBS Group assumed coverage on SPX in a report on Tuesday, January 23rd. They set a buy rating and a $41.00 price target on the stock. Zacks Investment Research cut SPX from a hold rating to a strong sell rating in a report on Friday, January 5th. Finally, TheStreet raised SPX from a d+ rating to a c rating in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $38.00.

Shares of SPX (NYSE SPXC) opened at $29.53 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1,260.00, a PE ratio of 38.35 and a beta of 1.67. SPX has a twelve month low of $21.97 and a twelve month high of $33.93.

In other news, CAO Michael Andrew Reilly sold 3,833 shares of SPX stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of SPX by 12.1% in 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. Rothschild Asset Management Inc. increased its holdings in shares of SPX by 506.5% in 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. Segall Bryant & Hamill LLC increased its holdings in shares of SPX by 12.1% in the third quarter. Segall Bryant & Hamill LLC now owns 1,005,441 shares of the company’s stock worth $29,500,000 after purchasing an additional 108,542 shares during the last quarter. Dimensional Fund Advisors LP grew its position in SPX by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 985,674 shares of the company’s stock worth $28,920,000 after acquiring an additional 18,660 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its position in SPX by 0.6% in the fourth quarter. Peregrine Capital Management LLC now owns 850,923 shares of the company’s stock worth $26,710,000 after acquiring an additional 5,252 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

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SPX Company Profile

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.

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

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