Spirax-Sarco Engineering plc (LON:SPX) Receives GBX 8,672.50 Average Target Price from Brokerages

Shares of Spirax-Sarco Engineering plc (LON:SPX) have received an average rating of “Reduce” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is GBX 8,672.50 ($112.47).

Several equities research analysts have commented on SPX shares. Jefferies Financial Group decreased their price objective on shares of Spirax-Sarco Engineering from GBX 9,690 ($125.66) to GBX 9,580 ($124.24) and set a “hold” rating for the company in a research note on Friday, July 12th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 8,150 ($105.69) price objective on shares of Spirax-Sarco Engineering in a report on Wednesday, September 25th. Royal Bank of Canada reduced their price objective on shares of Spirax-Sarco Engineering from GBX 8,000 ($103.75) to GBX 7,000 ($90.78) and set an “underperform” rating for the company in a research note on Thursday, August 15th. Finally, Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th.

Insider Buying and Selling

In related news, insider Kevin J. Thompson bought 640 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of GBX 7,655 ($99.27) per share, for a total transaction of £48,992 ($63,535.21). 0.73% of the stock is owned by company insiders.

Spirax-Sarco Engineering Price Performance

Shares of LON:SPX opened at GBX 6,535 ($84.75) on Friday. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 98.81. The stock has a market cap of £4.81 billion, a PE ratio of 2,525.00, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The stock’s fifty day simple moving average is GBX 7,220.48 and its two-hundred day simple moving average is GBX 8,273.67. Spirax-Sarco Engineering has a 1-year low of GBX 6,565 ($85.14) and a 1-year high of £112.80 ($146.28).

Spirax-Sarco Engineering Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be issued a GBX 47.50 ($0.62) dividend. This represents a yield of 0.56%. The ex-dividend date of this dividend is Thursday, October 17th. Spirax-Sarco Engineering’s payout ratio is 6,230.77%.

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.