After Achieving 52-Week High, Is SPX Corporation (SPXC)’s Near-Term Analysis Positive?

May 17, 2018 - By Duane Lopez

SPX Corporation (NYSE:SPXC) Logo

The stock of SPX Corporation (NYSE:SPXC) hit a new 52-week high and has $36.45 target or 7.00 % above today’s $34.07 share price. The 8 months bullish chart indicates low risk for the $1.46B company. The 1-year high was reported on May, 17 by Barchart.com. If the $36.45 price target is reached, the company will be worth $102.48M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.61% or $0.21 during the last trading session, reaching $34.07. About 147,645 shares traded. SPX Corporation (NYSE:SPXC) has risen 38.22% since May 17, 2017 and is uptrending. It has outperformed by 26.67% the S&P500.

Analysts await SPX Corporation (NYSE:SPXC) to report earnings on August, 2. They expect $0.49 EPS, up 11.36 % or $0.05 from last year’s $0.44 per share. SPXC’s profit will be $21.06M for 17.38 P/E if the $0.49 EPS becomes a reality. After $0.44 actual EPS reported by SPX Corporation for the previous quarter, Wall Street now forecasts 11.36 % EPS growth.

More notable recent SPX Corporation (NYSE:SPXC) news were published by: Globenewswire.com which released: “SPX Reports First Quarter 2018 Results” on May 03, 2018, also Globenewswire.com with their article: “SPX to Present at 2018 Oppenheimer Industrials Growth Conference” published on May 08, 2018, Bizjournals.com published: “With $205M in acquisitions logged, SPX Corp. to soon eye more additions” on May 04, 2018. More interesting news about SPX Corporation (NYSE:SPXC) were released by: Bizjournals.com and their article: “Charlotte’s SPX Corp. plans first major acquisition since spinoff” published on April 24, 2018 as well as Globenewswire.com‘s news article titled: “SPX Announces Agreement to Purchase CUES, Inc.” with publication date: April 23, 2018.

SPX Corporation supplies infrastructure equipment serving the heating and ventilation , detection and measurement, power transmission and generation, and industrial markets in the United States, China, South Africa, the United Kingdom, and internationally. The company has market cap of $1.46 billion. It operates through three divisions: HVAC, Detection and Measurement, and Engineered Solutions. It has a 16.77 P/E ratio. The HVAC segment engineers, designs, makes, installs, and services cooling products for the HVAC and industrial markets, as well as boilers, comfort heating, and ventilation products for the residential and commercial markets.

SPX Corporation (NYSE:SPXC) Institutional Positions Chart

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