SPX Corp. PT Raised to $125.00 at Stifel Nicolaus (SPW)
Equities researchers at Stifel Nicolaus upped their price objective on shares of SPX Corp. (NYSE:SPW) from $110.00 to $125.00 in a research report issued on Tuesday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 21.61% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of SPX Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 31st. They now have a $100.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of SPX Corp. in a research note to investors on Thursday, December 5th. They now have a $101.00 price target on the stock, up previously from $97.00. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $93.21.
In other SPX Corp. news, VP Kevin Lilly unloaded 7,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $100.57, for a total value of $703,990.00. Following the sale, the vice president now directly owns 93,898 shares in the company, valued at approximately $9,443,322. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
SPX Corp. (NYSE:SPW) traded down 1.70% on Tuesday, hitting $102.79. 254,340 shares of the company’s stock traded hands. SPX Corp. has a 1-year low of $67.19 and a 1-year high of $105.86. The stock’s 50-day moving average is $98.01 and its 200-day moving average is $86.26. The company has a market cap of $4.662 billion and a P/E ratio of 19.93.
SPX Corp. (NYSE:SPW) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. Analysts expect that SPX Corp. will post $3.96 EPS for the current fiscal year.
SPX Corporation is a global, multi-industry manufacturer of specialized, engineered solutions with operations in over 35 countries and sales in over 150 countries globally.
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