Spirax-Sarco Engineering (LON:SPX) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Spirax-Sarco Engineering plc (LON:SPX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 7,108.47 and traded as high as GBX 7,460. Spirax-Sarco Engineering shares last traded at GBX 7,375, with a volume of 114,784 shares trading hands.

Analyst Upgrades and Downgrades

Separately, UBS Group restated a “buy” rating and set a £105 price target on shares of Spirax-Sarco Engineering in a research note on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Spirax-Sarco Engineering has a consensus rating of “Hold” and a consensus target price of GBX 8,012.50.

Spirax-Sarco Engineering Trading Up 1.0%

The company has a quick ratio of 1.73, a current ratio of 1.85 and a debt-to-equity ratio of 83.78. The company’s fifty day moving average price is GBX 6,870.20 and its two-hundred day moving average price is GBX 7,108.47. The firm has a market cap of £5.50 billion, a PE ratio of 33.68, a P/E/G ratio of 2.20 and a beta of 1.15.

About Spirax-Sarco Engineering

Spirax Group is positioned to play a critical role in enabling the industrial transition to net zero, aligned to our Purpose to create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world. We put solving customers’ problems at the heart of our total solutions approach. Our global thermal energy and fluid technology solutions improve operating efficiency and safety in our customers’ critical industrial processes. Our new-to-world decarbonisation* solutions will use our proprietary technologies to electrify boilers for the raising of steam, as well as the electrification of other critical industrial process heating applications.