The Chart of the Day unveils SPX Technologies (SPXC), an industry leader in building products. Utilizing Barchart’s robust screening functions, the stock earned the highest technical buy signals, superior current momentum, and a Trend Seeker buy signal, resulting in a commendable 6.48% gain since the buy signal was activated on 2/1.
SPX Technologies, Inc. caters to the heating, ventilation, and cooling (HVAC) and detection and measurement markets globally. The company operates in two segments: HVAC and Detection and Measurement. Notably, the HVAC segment offers an array of innovative products under various esteemed brands, while the Detection and Measurement segment delivers cutting-edge solutions through a range of brands. SPX Technologies, Inc. has a rich legacy dating back to 1912 and is headquartered in Charlotte, North Carolina.
Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 61.20+ Weighted Alpha
- 52.82% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 17 new highs and up 11.43% in the last month
- Relative Strength Index 66.84%
- Technical support level at $109.28
- Recently traded at $110.37 with 50 day moving average of $100.31
Fundamental Factors:
- Market Cap $5.04 billion
- P/E 26.15
- Wall Street projects Revenue will grow 20.00% this year and grow another 7.90% next year
- Earnings are estimated to increase 39.00% this year, increase an additional 9.50% next year and continue to compound at an annual rate of 18.00% for the next 5 years
Analysts and Investor Sentiment — While mainstream enthusiasm is not the sole investment driver, it undoubtedly holds significance when gauging market sentiment:
- Wall Street analysts issued 3 strong buy, and 1 hold recommendation this month
- Analysts price targets are $90 to $118 – with a consensus of $104 – 6% below its recent price (weird with all the strong buy and buy opinions)
- The individual investors following the stock on Motley Fool voted 165 to 10 for the stock to beat the market with the most experienced investors voting 20 to 1 for the same result
- Value Line gives the stock its average rating of 3 with a price target of $114 for a 5% gain
- CFRAs MarketScope has a hold rating
- 3,460 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
