Insider Buying: Spirax-Sarco Engineering (LON:SPX) Insider Purchases 2 Shares of Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel acquired 2 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were purchased at an average cost of GBX 6,860 per share, with a total value of £137.20.

Nimesh Patel also recently made the following trade(s):

• On Wednesday, November 5th, Nimesh Patel bought 2 shares of Spirax-Sarco Engineering stock. The stock was purchased at an average price of GBX 7,055 per share, for a total transaction of £141.10.

Spirax-Sarco Engineering Stock Performance

Shares of LON:SPX traded up GBX 30 during midday trading on Tuesday, hitting GBX 6,885. The company’s stock had a trading volume of 176,566 shares, compared to its average volume of 1,032,150. Spirax-Sarco Engineering plc has a fifty-two week low of GBX 5,380 and a fifty-two week high of GBX 8,245. The company has a debt-to-equity ratio of 98.85, a quick ratio of 1.73 and a current ratio of 2.25. The stock has a market capitalization of £5.07 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.20 and a beta of 0.68. The stock’s 50 day simple moving average is GBX 6,861.96 and its 200 day simple moving average is GBX 6,733.17.

Analyst Ratings Changes

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

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.