SPX Technologies Inc reaches 20-day high amid acquisition news.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 06 2024
0mins
Should l Buy SPXC?
Source: NASDAQ.COM
SPX Technologies Inc saw a price increase of 3.05%, reaching a 20-day high. This movement comes amid mixed market conditions, with the Nasdaq-100 down 0.39% and the S&P 500 up 0.18%.
The stock's rise is attributed to SPX Technologies' announcement of its acquisition of Crawford United for approximately $300 million. This strategic move is expected to enhance SPX's HVAC segment and integrate Crawford's Commercial Air Handling Equipment, which reported significant sales and operating profit in the past year.
This acquisition not only strengthens SPX's market position but also indicates a proactive approach to expanding its product offerings, potentially leading to increased revenue and market share in the HVAC sector.
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Analyst Views on SPXC
Wall Street analysts forecast SPXC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPXC is 226.88 USD with a low forecast of 210.00 USD and a high forecast of 244.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
6 Buy
3 Hold
0 Sell
Moderate Buy
Current: 218.020
Low
210.00
Averages
226.88
High
244.00
Current: 218.020
Low
210.00
Averages
226.88
High
244.00
About SPXC
SPX Technologies, Inc. is a diversified, global supplier of engineered products and technologies in the heating, ventilation, and air conditioning (HVAC) and detection and measurement markets. Its segments include HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs and services cooling products and engineered air movement and handling solutions for the HVAC industrial, commercial, data center, and power generation markets, as well as heating and ventilation products for the residential, industrial, and commercial markets. The distribution channels for the segment’s products are direct to customers, independent manufacturing representatives, third-party distributors, and retailers. The Detection and Measurement segment engineers, designs, manufactures, services, and installs underground pipe and cable locators, inspection and rehabilitation equipment, robotic systems, transportation systems, communication technologies, and aids to navigation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Catalyst Growth Potential: Catalyst achieved a remarkable 249% revenue growth leading up to 2024, with Q3 revenue rising 24% year-over-year to $436.3 million and EPS climbing 45.9% to $1.27, reflecting strong demand in rare disease treatments.
- Competitive Advantage: Both companies maintain low debt levels, with Halozyme reducing its long-term debt from $1.5 billion to $800 million, while Catalyst has no debt, providing them with greater flexibility for acquisitions and R&D investments.
- Optimistic Industry Outlook: The biotech sector rebounded in 2025, with the SPDR S&P Biotech ETF rising 27%, indicating a resurgence in market demand for innovative drugs, while both Halozyme and Catalyst are valued below the sector average, suggesting significant future growth potential.
See More
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- Biotech Recovery: In 2025, the SPDR S&P Biotech ETF surged 27%, nearly doubling the S&P 500's 16% gain, indicating a robust recovery in the biotech sector, supported by lower interest rates facilitating debt financing.
- Halozyme's Strong Growth: Halozyme Therapeutics saw its stock rise over 25% in the past year, with Q3 revenue increasing 22% year-over-year to $354 million and EPS jumping 36% to $1.43, showcasing its competitive edge in drug delivery systems.
- Catalyst's Profitability: Catalyst Pharmaceuticals reported a staggering 249% revenue growth from 2021 to 2024, with a 24% year-over-year increase in revenue to $436.3 million and a 45.9% rise in EPS to $1.27 this year, reflecting strong market demand in rare disease treatments.
- Optimistic Future Outlook: Halozyme forecasts annual revenue of $1.3 billion to $1.375 billion for 2026, representing 28% to 35% growth, while Catalyst anticipates revenue of $565 million to $585 million, nearly a 17% increase, indicating promising growth potential for both companies.
See More
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- Market Rebound: Stocks rebounded following President Trump's announcement to halt tariffs on Greenland, reflecting a renewed optimism in the market that could restore investor confidence and stimulate economic activity.
- Future Deal Framework: The “framework” mentioned by Trump suggests potential future trade agreements, which may positively influence trade relations between the U.S. and other nations, thereby impacting global market dynamics.
- New Buying Opportunities: Google and Eli Lilly emerge as leaders in new buying opportunities, indicating sustained investor confidence in the technology and pharmaceutical sectors, which could drive stock prices higher.
- Improved Market Sentiment: Trump's statement not only alleviates concerns over trade tensions but may also create more investment opportunities for other companies, enhancing overall economic growth expectations.
See More
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- Market Rebound: Stocks rebounded as President Trump announced he would not proceed with tariffs on Greenland, indicating investor optimism about a potential future trade deal, which could stimulate economic recovery.
- New Investment Opportunities: Google and Eli Lilly emerged as leading new buys, reflecting investor confidence in the technology and pharmaceutical sectors, potentially driving stock prices higher.
- Trade Framework Established: Trump's mention of a 'framework' for future agreements lays the groundwork for subsequent trade negotiations, which may improve trade relations between the U.S. and other countries.
- Investor Sentiment Improvement: With reduced uncertainty surrounding tariff policies, investor sentiment has improved, likely leading to increased capital inflows into the stock market, thereby enhancing overall market performance.
See More
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- Investigation Initiated: Former Louisiana Attorney General Charles C. Foti and Kahn Swick & Foti, LLC are investigating the proposed sale of Crawford United Corporation to SPX Technologies for approximately $83.42 per share, aiming to assess the fairness of the transaction and its implications for shareholder rights.
- Shareholder Cash Consideration: Under the transaction terms, Crawford shareholders are expected to receive about $83.42 per share after debt and expense adjustments, with the adequacy of this amount being scrutinized, potentially impacting the company's valuation.
- Legal Rights Consultation: KSF encourages shareholders who believe the transaction undervalues the company or wish to discuss their legal rights to contact Managing Partner Lewis S. Kahn for free consultations, highlighting the firm's commitment to protecting shareholder interests.
- Valuation Dispute: The investigation focuses on whether the process and outcome of the sale adequately reflect Crawford's true value, which may raise broader concerns regarding the company's future prospects and shareholder benefits.
See More
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- Leadership Enhancement: SPX Technologies appointed Daniel Whitman as Vice President, General Counsel & Secretary on January 5, 2026, aiming to leverage his extensive experience in the industrial technology sector to drive the company's growth and operational initiatives.
- Legal Expertise: With over 20 years at Parker Hannifin, where he served as Vice President responsible for commercial and operational support, Whitman is expected to provide robust legal guidance to SPX.
- Rich International Experience: Having led Parker Hannifin's legal team in Europe, the Middle East, and Africa during his expatriate assignment in Switzerland, Whitman brings valuable insights for SPX's international business expansion.
- Outstanding Educational Background: Whitman holds a Juris Doctor degree from the University of Akron and a bachelor's degree in mechanical engineering from Purdue University, providing a diverse perspective that combines legal and engineering expertise for the company.
See More
