Spirax-Sarco Engineering (LON:SPX) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Spirax-Sarco Engineering plc (LON:SPX)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 7,108.47 and traded as high as GBX 7,460. Spirax-Sarco Engineering shares last traded at GBX 7,375, with a volume of 114,784 shares trading hands.

Wall Street Analyst Weigh In

Separately, UBS Group restated a “buy” rating and issued a £105 target price on shares of Spirax-Sarco Engineering in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of GBX 8,012.50.

Spirax-Sarco Engineering Price Performance

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 company has a market capitalization of £5.50 billion, a PE ratio of 33.68, a P/E/G ratio of 2.20 and a beta of 1.15. The company’s 50-day simple moving average is GBX 6,870.20 and its 200-day simple moving average is GBX 7,108.47.

About Spirax-Sarco Engineering

Spirax Group is positioned to play a critical role in enabling the industrial transition to net zero, aligned to our Purpose to create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world. We put solving customers’ problems at the heart of our total solutions approach. Our global thermal energy and fluid technology solutions improve operating efficiency and safety in our customers’ critical industrial processes. Our new-to-world decarbonisation* solutions will use our proprietary technologies to electrify boilers for the raising of steam, as well as the electrification of other critical industrial process heating applications.