Investment analysts at Stifel Nicolaus boosted their target price on shares of SPX Corp. (NYSE:SPW) from $87.00 to $91.00 in a note issued to investors on Thursday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 19.09% from the stock’s previous close. The analysts noted that the move was a valuation call.
SPX Corp. (NYSE:SPW) opened at 76.41 on Thursday. SPX Corp. has a 1-year low of $56.31 and a 1-year high of $85.82. The stock’s 50-day moving average is currently $74.29. The company has a market cap of $3.575 billion and a price-to-earnings ratio of 15.09.
SPX Corp. (NYSE:SPW) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.15. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the company posted $0.74 earnings per share. SPX Corp.’s revenue was down 2.0% compared to the same quarter last year. Analysts expect that SPX Corp. will post $4.30 EPS for the current fiscal year.
SPW has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of SPX Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, July 4th. They now have a $73.10 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of SPX Corp. in a research note to investors on Monday, July 1st. They set a “buy” rating and a $86.00 price target on the stock. Finally, analysts at Citigroup Inc. downgraded shares of SPX Corp. from a “neutral” rating to a “sell” rating in a research note to investors on Friday, June 21st. They now have a $68.00 price target on the stock, down previously from $75.00. They noted that the move was a valuation call.
One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $81.47.
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.