Spirax-Sarco Engineering plc (LON:SPX – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 7,375 ($95.83) and last traded at GBX 7,380 ($95.89), with a volume of 106574 shares changing hands. The stock had previously closed at GBX 7,495 ($97.39).
Analyst Ratings Changes
SPX has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Spirax-Sarco Engineering from GBX 8,000 ($103.95) to GBX 7,000 ($90.96) and set an “underperform” rating for the company in a report on Thursday, August 15th. Berenberg Bank cut their price target on shares of Spirax-Sarco Engineering from GBX 9,800 ($127.34) to GBX 8,150 ($105.90) and set a “hold” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group lowered their price objective on Spirax-Sarco Engineering from GBX 9,690 ($125.91) to GBX 9,580 ($124.48) and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Spirax-Sarco Engineering currently has a consensus rating of “Hold” and a consensus target price of GBX 9,158 ($119.00).
Check Out Our Latest Report on Spirax-Sarco Engineering
Spirax-Sarco Engineering Stock Performance
Spirax-Sarco Engineering Cuts Dividend
The company also recently announced a dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be paid a GBX 47.50 ($0.62) dividend. This represents a dividend yield of 0.56%. The ex-dividend date is Thursday, October 17th. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is currently 6,230.77%.
Insider Buying and Selling
In other Spirax-Sarco Engineering news, insider Kevin J. Thompson acquired 640 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of GBX 7,655 ($99.47) per share, for a total transaction of £48,992 ($63,659.04). 0.79% of the stock is owned by corporate insiders.
Spirax-Sarco Engineering Company Profile
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.
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