Barclays Initiates Coverage on SPX Corp. (SPW)

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Barclays started coverage on shares of SPX Corp. (NYSE:SPW) in a research note released on Tuesday morning, Stock Ratings Network reports. The firm issued an overweight rating and a $108.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of SPX Corp. from $110.00 to $125.00 in a research note to investors on Tuesday. They now have a buy rating on the stock. Separately, 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. Finally, 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 assigned a hold rating and eight have assigned a buy rating to the company. 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 sold 7,000 shares of SPX Corp. stock on the open market in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $100.57, for a total value of $703,990.00. Following the completion of the sale, the vice president now directly owns 93,898 shares in the company, valued at approximately $9,443,322. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of SPX Corp. (NYSE:SPW) traded down 0.76% on Tuesday, hitting $104.80. The stock had a trading volume of 157,352 shares. SPX Corp. has a 1-year low of $67.19 and a 1-year high of $105.72. The stock has a 50-day moving average of $97.66 and a 200-day moving average of $86.13. The company has a market cap of $4.753 billion and a P/E ratio of 20.13.

SPX Corp. (NYSE:SPW) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.28 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.05 earnings per share. SPX Corp.’s revenue was down 8.3% compared to the same quarter last year. 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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