Spirax-Sarco Engineering (LON:SPX) Receives Hold Rating from Berenberg Bank

Spirax-Sarco Engineering (LON:SPX)‘s stock had its “hold” rating reaffirmed by research analysts at Berenberg Bank in a research report issued on Wednesday,London Stock Exchange reports. They currently have a GBX 7,350 price target on the stock. Berenberg Bank’s target price would indicate a potential upside of 3.23% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a “hold” rating in a research report on Thursday, November 13th. Shore Capital Group restated a “hold” rating on shares of Spirax-Sarco Engineering in a research note on Tuesday. Stifel Nicolaus upped their price target on shares of Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Finally, Royal Bank Of Canada boosted their target price on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the stock an “underperform” rating in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Spirax-Sarco Engineering currently has an average rating of “Hold” and a consensus price target of GBX 8,012.50.

Spirax-Sarco Engineering Stock Down 2.6%

Shares of SPX traded down GBX 190 during mid-day trading on Wednesday, reaching GBX 7,120. 408,236 shares of the stock traded hands, compared to its average volume of 1,258,053. The stock has a fifty day simple moving average of GBX 7,372.30 and a 200 day simple moving average of GBX 7,091.39. Spirax-Sarco Engineering has a 12-month low of GBX 5,380 and a 12-month high of GBX 8,050. The company has a quick ratio of 1.73, a current ratio of 1.77 and a debt-to-equity ratio of 92.52. The firm has a market cap of £5.26 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 2.20 and a beta of 1.13.

Spirax-Sarco Engineering (LON:SPX) last released 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 9.80% and a return on equity of 13.88%. Sell-side analysts expect that Spirax-Sarco Engineering will post 334.5410628 EPS for the current fiscal year.

Insiders Place Their Bets

In other Spirax-Sarco Engineering news, insider Nimesh Patel acquired 1,423 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of GBX 7,370 per share, for a total transaction of £104,875.10. Insiders have bought a total of 1,427 shares of company stock worth $10,515,980 in the last quarter. 0.61% of the stock is owned by corporate insiders.

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.