Insider Selling: Spirax-Sarco Engineering (LON:SPX) Insider Sells 804 Shares of Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel sold 804 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of GBX 6,655, for a total value of £53,506.20.

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

• On Tuesday, March 10th, Nimesh Patel acquired 1,423 shares of Spirax-Sarco Engineering stock. The shares were purchased at an average cost of GBX 7,370 per share, with a total value of £104,875.10.
• On Thursday, February 5th, Nimesh Patel acquired 2 shares of Spirax-Sarco Engineering stock. The stock was acquired at an average price 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 stock was acquired at an average cost of GBX 6,860 per share, for a total transaction of £137.20.

Spirax-Sarco Engineering Price Performance

LON:SPX traded up GBX 85 during mid-day trading on Wednesday, hitting GBX 6,785. 364,297 shares of the company’s stock traded hands, compared to its average volume of 1,379,432. 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 cap of £5.01 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. The firm’s 50 day simple moving average is GBX 7,372 and its 200 day simple moving average is GBX 7,077.87. Spirax-Sarco Engineering plc has a 1 year low of GBX 5,380 and a 1 year high of GBX 8,050.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada boosted their price target on Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the stock an “underperform” rating in a report on Wednesday, March 11th. Stifel Nicolaus upped their target price 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, March 11th. Shore Capital Group reiterated a “hold” rating on shares of Spirax-Sarco Engineering in a report on Tuesday, March 10th. Berenberg Bank reissued a “hold” rating and issued a GBX 7,350 price objective on shares of Spirax-Sarco Engineering in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. upped 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. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 8,012.50.

About Spirax-Sarco Engineering

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.