Authors Note: SPXC was the Chart of the Day on February 20 when it closed at $110.37. Since that date it gained about 23%+ and today was at the top of my screening list again.
The Chart of the Day belongs to the building products and equipment company SPX Technologies (SPXC) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 4/ 29 the stock gained 11.09%.
SPX Technologies, Inc. supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets. It offers its products under the Marley, Recold, SGS, Cincinnati Fan, TAMCO, Ingénia, Berko, Qmark, Fahrenheat, Leading Edge, Patterson-Kelley, Weil-McLain, Williamson-Thermoflo, INDEECO, Heatrex, AccuTherm, Brasch, Spectrum, BannerDay PipeHeating, and Solar Products brands. The Detection and Measurement segment offers underground pipe and cable locators, inspection and rehabilitation equipment, and robotic systems under the Radiodetection, Pearpoint, Schonstedt, Dielectric, Riser Bond, Cues, ULC Robotics, and Sensors & Software brands; transportation systems under the Genfare brand; communication technologies products under the TCI and ECS brands; and obstruction lighting products under the Flash Technology, ITL, Sabik Marine, Sealite, and Avlite brands. The company markets its products through independent manufacturing representatives, third-party distributors, and retailers, as well as direct to customers. The company was formerly known as SPX Corporation and changed its name to SPX Technologies, Inc. in August 2022. SPX Technologies, Inc. was founded in 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
- 96.58+ Weighted Alpha
- 83.29% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 8 new highs and up 12.18% in the last month
- Relative Strength Index 79.50%
- Technical support level at $131.95
- Recently traded at $136.16 with 50 day moving average of $119.75
Fundamental Factors:
- Market Cap $6.21 billion
- P/E 28.34
- Revenue expected to grow 13.50% this year and another 4.80% next year
- Earnings estimated to increase 18.30% this year, an additional 12.50% next year and continue to compound at an annual rate of 18.00% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts have 4 strong buy and 1 hold recommendation in place on the stock
- Their price target are between $125 and $145 with a consensus of $137
- Value Line rates the stock an average 3 and notes a mid-point price target of $158 for about a 20% gain
- CFRAs MarketScope has a hold rating
- MorningStar gives the stock an average 3 star rating with a Fair Value of $124
- 3,730 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.
