SPX (NYSE:SPXC – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $2.70-$2.85 for the period. The company issued revenue guidance of $1.41 billion-$1.45 billion, compared to the consensus revenue estimate of $1.39 billion.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on SPXC. TheStreet upgraded shares of SPX from a c rating to a b- rating in a research note on Tuesday, July 19th. StockNews.com upgraded shares of SPX from a hold rating to a buy rating in a research report on Monday, August 8th.
SPX Stock Performance
Shares of SPXC opened at $60.80 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.75 billion, a P/E ratio of 7.82, a PEG ratio of 1.18 and a beta of 1.24. The company has a 50-day moving average of $56.32 and a two-hundred day moving average of $51.31. SPX has a 12-month low of $41.66 and a 12-month high of $68.24.
Insider Activity
In other news, insider John William Swann III sold 9,365 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $55.00, for a total value of $515,075.00. Following the completion of the transaction, the insider now owns 83,472 shares of the company’s stock, valued at $4,590,960. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.
Institutional Investors Weigh In On SPX
Ad Tradewins
The Safest Option in Trades!
If you’re new to trading, then you’ve probably heard the wrong thing about options—that they’re risky, unpredictable, or difficult.
And it couldn’t be more wrong! With the Hughes Optioneering Strategy, you’ll soon learn that the safest option for new accounts is options themselves!
A number of institutional investors have recently bought and sold shares of SPXC. BlackRock Inc. grew its holdings in SPX by 1.5% in the first quarter. BlackRock Inc. now owns 6,946,104 shares of the company’s stock valued at $343,207,000 after purchasing an additional 104,221 shares during the period. State Street Corp grew its stake in SPX by 4.2% during the first quarter. State Street Corp now owns 1,612,018 shares of the company’s stock worth $79,650,000 after buying an additional 64,267 shares during the period. Renaissance Technologies LLC grew its stake in SPX by 76.4% during the first quarter. Renaissance Technologies LLC now owns 109,200 shares of the company’s stock worth $5,396,000 after buying an additional 47,309 shares during the period. Ancora Advisors LLC grew its stake in SPX by 2,475.0% during the first quarter. Ancora Advisors LLC now owns 45,062 shares of the company’s stock worth $2,625,000 after buying an additional 43,312 shares during the period. Finally, Bank of America Corp DE grew its stake in SPX by 25.4% during the first quarter. Bank of America Corp DE now owns 210,772 shares of the company’s stock worth $10,415,000 after buying an additional 42,709 shares during the period. 91.47% of the stock is currently owned by hedge funds and other institutional investors.
SPX Company Profile
SPX Corporation supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, China, the United Kingdom, and internationally. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services cooling products and engineered air quality solutions for the HVAC, and industrial markets; and heating and ventilation products for the residential and commercial markets.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider SPX, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and SPX wasn’t on the list.
While SPX currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Techyrack Website stock market day trading and youtube monetization and adsense Approval
Adsense Arbitrage website traffic Get Adsense Approval Google Adsense Earnings Traffic Arbitrage YouTube Monetization YouTube Monetization, Watchtime and Subscribers Ready Monetized Autoblog
from NYSE Updates – My Blog https://ift.tt/4k9CnrL
via IFTTT
No comments:
Post a Comment