Insider Buying: Spirax-Sarco Engineering (LON:SPX) Insider Buys £104,875.10 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel acquired 1,423 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of GBX 7,370 per share, for a total transaction of £104,875.10.

Nimesh Patel also recently made the following trade(s):

• On Thursday, February 5th, Nimesh Patel purchased 2 shares of Spirax-Sarco Engineering stock. The shares were acquired at an average cost of GBX 7,375 per share, for a total transaction of £147.50.
• On Monday, January 5th, Nimesh Patel acquired 2 shares of Spirax-Sarco Engineering stock. The shares were acquired at an average price of GBX 6,860 per share, for a total transaction of £137.20.

Spirax-Sarco Engineering Price Performance

Shares of SPX opened at GBX 7,120 on Friday. The stock has a 50 day simple moving average of GBX 7,384.30 and a 200 day simple moving average of GBX 7,091.79. Spirax-Sarco Engineering plc has a 52-week low of GBX 5,380 and a 52-week high of GBX 8,050. The company has a debt-to-equity ratio of 83.78, a quick ratio of 1.73 and a current ratio of 1.85. The firm has a market capitalization of £5.26 billion, a PE ratio of 32.35, a P/E/G ratio of 2.20 and a beta of 1.13.

Spirax-Sarco Engineering (LON:SPX) last announced its quarterly earnings results on Tuesday, March 10th. The company reported GBX 296.30 earnings per share for the quarter. Spirax-Sarco Engineering had a net margin of 9.60% and a return on equity of 13.86%. Sell-side analysts predict that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on SPX. Royal Bank Of Canada lifted their price target on Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the company an “underperform” rating in a research note on Wednesday. Stifel Nicolaus increased their price objective on Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the stock a “hold” rating in a report on Wednesday. Berenberg Bank reissued a “hold” rating and issued a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a research report on Wednesday. Peel Hunt reaffirmed a “buy” rating and set a GBX 8,500 price target on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. Finally, Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Spirax-Sarco Engineering has a consensus rating of “Hold” and an average target price of GBX 8,012.50.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering rebrands as Spirax Group

On 22 February 2024, Spirax-Sarco Engineering changed its name to Spirax Group which reflects the Company’s evolution over many years to a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities.

Our new name respects our history and where we have come from, with who we are today. It creates more distinction between the Group and its Spirax Sarco trading Division (part of Steam Thermal Solutions), providing improved clarity for all stakeholders.