Spirax-Sarco Engineering (LON:SPX) Stock Crosses Above 200-Day Moving Average – What’s Next?

Spirax-Sarco Engineering plc (LON:SPX)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 7,025.62 and traded as high as GBX 7,330. Spirax-Sarco Engineering shares last traded at GBX 7,275, with a volume of 112,253 shares changing hands.

Wall Street Analysts Forecast Growth

SPX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 7,500 price objective on shares of Spirax-Sarco Engineering in a research report on Thursday, October 1st. Berenberg Bank reiterated a “hold” rating and set a GBX 7,350 price target on shares of Spirax-Sarco Engineering in a research report on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 8,740 price objective on shares of Spirax-Sarco Engineering in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. raised their target price on Spirax-Sarco Engineering from GBX 7,800 to GBX 8,600 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 8,155.

Spirax-Sarco Engineering Stock Up 0.5%

The stock has a market cap of £5.41 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 2.20 and a beta of 1.14. The business has a fifty day moving average of GBX 7,103.60 and a 200 day moving average of GBX 7,029.67. The company has a debt-to-equity ratio of 86.79, a current ratio of 2.14 and a quick ratio of 1.73.

Spirax-Sarco Engineering (LON:SPX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported GBX 150 earnings per share for the quarter. Spirax-Sarco Engineering had a net margin of 11.36% and a return on equity of 16.03%. On average, equities analysts predict that Spirax-Sarco Engineering plc will post 334.54 earnings per share for the current year.

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.