Spirax-Sarco Engineering (LON:SPX) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Spirax-Sarco Engineering plc (LON:SPX)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 6,706.77 and traded as high as GBX 6,950. Spirax-Sarco Engineering shares last traded at GBX 6,820, with a volume of 32,886 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPX. UBS Group raised shares of Spirax-Sarco Engineering to a “buy” rating and increased their target price for the company from GBX 7,500 to £105 in a research note on Tuesday, October 28th. JPMorgan Chase & Co. upped their price target on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a “neutral” rating in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft increased their price target on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a “hold” rating in a research report on Thursday, November 13th. Peel Hunt reiterated a “buy” rating and set a GBX 8,500 price objective on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. Finally, Shore Capital reiterated a “hold” rating on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Spirax-Sarco Engineering presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 8,540.

Spirax-Sarco Engineering Stock Performance

The company has a quick ratio of 1.73, a current ratio of 2.25 and a debt-to-equity ratio of 98.85. The stock has a fifty day simple moving average of GBX 6,865.20 and a 200-day simple moving average of GBX 6,706.77. The company has a market capitalization of £5.03 billion, a P/E ratio of 30.99, a PEG ratio of 2.20 and a beta of 0.68.

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.