Spirax-Sarco Engineering’s (SPX) “Hold” Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their hold rating on shares of Spirax-Sarco Engineering (LON:SPX) in a research report released on Wednesday, MarketBeat Ratings reports. The firm currently has a GBX 7,350 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Shore Capital Group reaffirmed a “hold” rating on shares of Spirax-Sarco Engineering in a report on Tuesday. Stifel Nicolaus increased their price objective on shares of Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the company a “hold” rating in a research note on Wednesday. Royal Bank Of Canada raised their target price on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the company an “underperform” rating in a research report on Wednesday. Peel Hunt reaffirmed a “buy” rating and set a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Spirax-Sarco Engineering currently has a consensus rating of “Hold” and an average price target of GBX 8,012.50.

Spirax-Sarco Engineering Stock Performance

LON:SPX opened at GBX 6,855 on Wednesday. The stock’s 50-day simple moving average is GBX 7,381.70 and its 200 day simple moving average is GBX 7,088.42. The firm has a market capitalization of £5.07 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. The company has a quick ratio of 1.73, a current ratio of 1.85 and a debt-to-equity ratio of 83.78. Spirax-Sarco Engineering has a twelve month low of GBX 5,380 and a twelve month high of GBX 8,050.

Spirax-Sarco Engineering (LON:SPX) last issued its earnings results on Tuesday, March 10th. The company reported GBX 296.30 EPS for the quarter. Spirax-Sarco Engineering had a return on equity of 13.86% and a net margin of 9.60%. On average, analysts anticipate that Spirax-Sarco Engineering will post 334.5410628 EPS for the current fiscal year.

Insider Buying and Selling at Spirax-Sarco Engineering

In other news, insider Nimesh Patel acquired 1,423 shares of the stock in a transaction dated Tuesday, March 10th. The stock was bought at an average price of GBX 7,370 per share, with a total value of £104,875.10. Insiders bought 1,427 shares of company stock worth $10,515,980 in the last quarter. Insiders own 0.61% of the company’s stock.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering rebrands as Spirax Group

On 22 February 2024, Spirax-Sarco Engineering changed its name to Spirax Group which reflects the Company’s evolution over many years to a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities.

Our new name respects our history and where we have come from, with who we are today. It creates more distinction between the Group and its Spirax Sarco trading Division (part of Steam Thermal Solutions), providing improved clarity for all stakeholders.