Nimesh Patel Acquires 2 Shares of Spirax-Sarco Engineering (LON:SPX) Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel acquired 2 shares of the company’s stock in a transaction on Monday, September 7th. The shares were purchased at an average cost of GBX 6,897 per share, for a total transaction of £137.94.

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

• On Wednesday, August 5th, Nimesh Patel bought 2 shares of Spirax-Sarco Engineering stock. The stock was purchased at an average cost of GBX 7,112 per share, with a total value of £142.24.
• On Monday, July 6th, Nimesh Patel bought 2 shares of Spirax-Sarco Engineering stock. The stock was purchased at an average cost of GBX 6,650 per share, with a total value of £133.

Spirax-Sarco Engineering Stock Down 2.6%

Shares of LON SPX opened at GBX 6,826.25 on Friday. The stock has a market cap of £5.04 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.20 and a beta of 1.14. The company has a quick ratio of 1.73, a current ratio of 2.14 and a debt-to-equity ratio of 86.79. Spirax-Sarco Engineering plc has a 52-week low of GBX 5,950 and a 52-week high of GBX 8,050. The business has a 50-day moving average price of GBX 6,975.12 and a 200 day moving average price of GBX 7,042.17.

Spirax-Sarco Engineering (LON:SPX) last released its quarterly earnings results on Tuesday, August 11th. The company reported GBX 150 EPS for the quarter. Spirax-Sarco Engineering had a return on equity of 16.03% and a net margin of 11.36%. Equities research analysts forecast that Spirax-Sarco Engineering plc will post 334.5410628 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPX has been the topic of a number of recent research reports. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a report on Wednesday, August 12th. JPMorgan Chase & Co. increased their price target on shares of Spirax-Sarco Engineering from GBX 7,800 to GBX 8,600 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Jefferies Financial Group reissued a “buy” rating and set a GBX 8,740 price objective on shares of Spirax-Sarco Engineering in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 7,500 price objective on shares of Spirax-Sarco Engineering in a research note on Wednesday, August 12th. Three research 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 8,155.

Spirax-Sarco Engineering Company Profile

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.