A number of other firms have also recently commented on SPW. Analysts at SunTrust (NYSE: STI) initiated coverage on shares of SPX Corp in a research note to investors on Tuesday, April 17th. They set a “buy” rating on the stock. Separately, analysts at Robert W. Baird initiated coverage on shares of SPX Corp in a research note to investors on Wednesday, April 4th. They set an “outperform” rating and a $95.00 price target on the stock. Finally, analysts at Bank of America (NYSE: BAC) raised their price target on shares of SPX Corp from $80.00 to $90.00 in a research note to investors on Wednesday, April 4th. They now have a “buy” rating on the stock.
SPX Corp traded down 2.24% on Thursday, hitting $72.56. SPX Corp has a 1-year low of $40.66 and a 1-year high of $86.12. The company has a market cap of $3.672 billion and a price-to-earnings ratio of 22.12.
The company last announced its quarterly results on Wednesday, May 2nd. It reported $0.26 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.23 EPS by $0.03. The company’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts expect that SPX Corp will post $1.46 EPS next quarter.
SPX Corporation is a global multi-industry manufacturer of specialized engineered solutions. The majority of its revenues, approximately 55% during the year ended December 31, 2009, are driven by global infrastructure development.