Insider Buying: Spirax-Sarco Engineering (LON:SPX) Insider Buys £149.40 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel purchased 2 shares of the stock in a transaction on Thursday, November 5th. The stock was acquired at an average cost of GBX 7,470 per share, with a total value of £149.40.

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

• On Monday, September 7th, Nimesh Patel purchased 2 shares of Spirax-Sarco Engineering stock. The shares were acquired at an average price of GBX 6,897 per share, with a total value of £137.94.

Spirax-Sarco Engineering Stock Up 3.6%

Shares of LON:SPX opened at GBX 7,620 on Thursday. The stock’s 50-day moving average price is GBX 7,203.12 and its 200-day moving average price is GBX 7,134.62. Spirax-Sarco Engineering plc has a 12-month low of GBX 5,950 and a 12-month high of GBX 8,050. The stock has a market capitalization of £5.62 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 2.20 and a beta of 1.14. The company has a current ratio of 2.14, a quick ratio of 1.73 and a debt-to-equity ratio of 86.79.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a GBX 8,955 target price on shares of Spirax-Sarco Engineering in a report on Wednesday. Deutsche Bank reiterated a “hold” rating and set a GBX 7,500 price target on shares of Spirax-Sarco Engineering in a report on Thursday, October 1st. JPMorgan Chase & Co. increased their price target on shares of Spirax-Sarco Engineering from GBX 7,800 to GBX 8,600 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 7,350 price target on shares of Spirax-Sarco Engineering in a report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Spirax-Sarco Engineering currently has a consensus rating of “Hold” and an average price target of GBX 8,181.88.

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.