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    SPX Technologies (SPXC) Could Be 30% Undervalued As Guidance Rises

    Simply Wall St·11/09/2026 07:17:37
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    SPX Technologies (SPXC) is back on investors’ radar after third quarter 2026 earnings and a higher full year sales outlook, giving the market fresh data on both recent performance and management expectations.

    Despite the solid third quarter update, SPX Technologies’ share price has retreated sharply, with a 90 day share price return down 32.8% and a year to date share price return down 29.8%, even though the 5 year total shareholder return is up 117.3%.

    Compare SPX Technologies’ recent pullback and guidance reset with a curated group of industrials and capital goods stocks by scanning the 39 high quality undervalued stocks, which may be pricing in similar dislocations.

    That mix of stronger guidance and a sharply weaker share price puts SPX Technologies in an unusual spot. Does the current valuation still tilt the balance of risk and reward toward buyers, or has the pullback already done its job?

    Most Popular Narrative: 30% Undervalued

    On the most followed narrative for SPX Technologies, the fair value sits at $203 per share compared with the last close at $142.71, which frames the recent selloff as a potential valuation gap rather than just a sentiment swing. According to John_Eric, an investor in the Simply Wall St Community who wrote the narrative, that gap rests on how AI data center cooling flows through the HVAC backlog and earnings power.

    The HVAC number really is that good, a company does not organically grow backlog 59% by accident. But look one row down and the romance gets its first interruption, Detection & Measurement, the company's smaller, unrelated segment (pipe locators, transportation systems, utility instrumentation), has a backlog that is actually shrinking. And a chunk of that segment's headline grabbing margin strength this quarter came from a single $15 million project that got pulled forward from Q3, flattering this quarter's story at the expense of next quarter's comparison.

    See why 37 investors see SPX Technologies as 30% undervalued.

    Result: Fair Value of $203 (UNDERVALUED)

    Still, the SPX Technologies story depends heavily on HVAC remaining the workhorse, provided that softness in the Detection and Measurement backlog or setbacks in acquisition integration do not erode that thesis.

    Find out about the key risks to this SPX Technologies narrative.

    Next Steps

    Does this mix of enthusiasm and caution around SPX Technologies match your own read, or does something feel off in the risk reward balance today? Review the full spread of concerns and potential upsides in the 4 key rewards and 1 important warning sign.

    Looking for more SPX Technologies style investment ideas?

    If SPX Technologies has you rethinking where risk and opportunity meet, do not stop here. Broaden your watchlist now using focused screeners that surface specific traits you care about.