Brokerages Set Spirax-Sarco Engineering plc (LON:SPX) Price Target at GBX 9,158

Shares of Spirax-Sarco Engineering plc (LON:SPX) have received a consensus recommendation of “Reduce” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is GBX 9,158 ($122.50).

A number of research firms have commented on SPX. Berenberg Bank reissued a “hold” rating and set a GBX 8,150 ($109.02) price target on shares of Spirax-Sarco Engineering in a report on Wednesday, September 25th. Royal Bank of Canada dropped their target price on Spirax-Sarco Engineering from GBX 8,000 ($107.01) to GBX 7,000 ($93.63) and set an “underperform” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group decreased their price target on shares of Spirax-Sarco Engineering from GBX 9,690 ($129.61) to GBX 9,580 ($128.14) and set a “hold” rating for the company in a research note on Friday, July 12th. Finally, Shore Capital reissued a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Friday, August 30th.

Insiders Place Their Bets

In related news, insider Kevin J. Thompson purchased 640 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of GBX 7,655 ($102.39) per share, for a total transaction of £48,992 ($65,532.37). Insiders own 0.73% of the company’s stock.

Spirax-Sarco Engineering Price Performance

Shares of Spirax-Sarco Engineering stock opened at GBX 7,370 ($98.58) on Tuesday. The company has a debt-to-equity ratio of 98.81, a quick ratio of 1.73 and a current ratio of 2.26. The stock’s fifty day moving average is GBX 7,771.05 and its 200 day moving average is GBX 8,710.80. The stock has a market cap of £5.43 billion, a P/E ratio of 2,834.62, a P/E/G ratio of 2.45 and a beta of 0.68. Spirax-Sarco Engineering has a one year low of GBX 7,075 ($94.64) and a one year high of £112.80 ($150.88).

Spirax-Sarco Engineering Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be given a GBX 47.50 ($0.64) dividend. The ex-dividend date is Thursday, October 17th. This represents a dividend yield of 0.56%. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is currently 6,230.77%.

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions it operates through three segments: Steam Thermal Solutions; Electric Thermal Solutions; and Watson-Marlow Fluid Technology Solutions. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including tubing, and specialty filling systems and products for single-use applications.