Movement Alert｜SPX Technologies Falls 5.59% in Regular Trading, Earnings Preview and Price Target Cuts Stay in Focus

Market Focus01:45

On October 23, SPX Technologies fell 5.59% in Regular Trading, trading at $158.69 per share, with turnover of $72.04 million.

The latest identifiable catalyst is a mix of earnings-preview positioning ahead of the company’s October 29 post-market report and recent analyst price-target reductions, even as bullish ratings were maintained.

Market expectations call for quarterly revenue of $710 million, up 23.05% year over year, adjusted EPS of $2.13, up 31.73%, and EBIT of $156 million, up 37.48%. Recent analyst actions showed Oppenheimer trimming its target to $265 from $270 while keeping an Outperform rating, and Truist lowering its target to $266 from $301 while maintaining Buy. SPX Technologies also completed the $410 million cash acquisition of FIS Water, with management set to update full-year guidance alongside third-quarter results, keeping attention on integration progress and growth in HVAC and detection and measurement.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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