Stock Worth Watching: SPX Corporation Sets 52-Week High; Strong Momentum for Holders

Stock Worth Watching: SPX Corporation Sets 52 Week High; Strong Momentum for Holders

The stock of SPX Corporation (NYSE:SPXC) hit a new 52-week high and has $38.49 target or 64.00% above today’s $23.47 share price. The 8 months bullish chart indicates low risk for the $995.54M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $38.49 price target is reached, the company will be worth $637.15 million 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. About 125,436 shares traded hands. SPX Corporation (NYSE:SPXC) has risen 37.77% since April 19, 2016 and is uptrending. It has outperformed by 33.91% the S&P500.

SPX Corporation (NYSE:SPXC) Ratings Coverage

Out of 4 analysts covering SPX FLOW (NYSE:SPXC), 3 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 75% are positive. SPX FLOW has been the topic of 9 analyst reports since September 29, 2015 according to StockzIntelligence Inc. On Thursday, June 2 the stock rating was maintained by UBS with “Buy”. The firm has “Neutral” rating given on Tuesday, September 29 by Credit Suisse. The firm earned “Underperform” rating on Thursday, October 1 by RBC Capital Markets. The firm has “Outperform” rating given on Thursday, October 1 by Robert W. Baird. The firm earned “Outperform” rating on Monday, March 28 by Credit Suisse. The rating was initiated by Susquehanna on Tuesday, September 29 with “Neutral”.

According to Zacks Investment Research, “SPX Corporation is a provider of technical products and systems, industrial products and services, service solutions and vehicle components. These products are primarily sold to customers throughout North America and Europe. As a global multi-industry company, SPX is focused on profitably growing businesses that have scale and growth potential. These businesses are grouped into four different segments: Technical Products and Systems, Industrial Products and Services, Flow Technology and Service Solutions.”

More important recent SPX Corporation (NYSE:SPXC) news were published by: Prnewswire.com which released: “SPX Corporation Declares Spin-Off Dividend of SPX FLOW, Inc. Shares” on September 08, 2015, also Moodys.com published article titled: “Moody’s withdraws SPX Corporation’s ratings”, Bizjournals.com published: “SPX Corp. looks to sell, restructure underperforming power business lines” on August 05, 2016. More interesting news about SPX Corporation (NYSE:SPXC) was released by: Bizjournals.com and their article: “SPX Corp. looks to sell under-performing business segments” with publication date: February 26, 2016.

SPXC Company Profile

SPX Corporation, incorporated on February 9, 1968, is a diversified, global supplier of infrastructure equipment. The Firm operates through three divisions: heating, ventilation and air conditioning (HVAC); Detection and Measurement, and Power. The HVAC solutions offered by its businesses include package cooling towers, residential and commercial boilers, heating and ventilation products. The Company’s detection and measurement product lines encompass underground pipe and cable locators, and inspection equipment. Within its power platform, it is a maker of medium and large power transformers, as well as equipment for various types of power plant, including cooling equipment, heat exchangers and pollution control systems. The Firm has activities in approximately 20 countries.

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