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

Spirax-Sarco Engineering plc (LON:SPX) has received a consensus rating of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is GBX 8,672.50 ($112.47).

A number of analysts recently weighed in on SPX shares. Royal Bank of Canada decreased their price target on Spirax-Sarco Engineering from GBX 8,000 ($103.75) to GBX 7,000 ($90.78) and set an “underperform” rating on the stock in a research note on Thursday, August 15th. 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. Shore Capital reissued a “sell” rating on shares of Spirax-Sarco Engineering in a report on Friday, August 30th. Finally, Jefferies Financial Group cut their price target on 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 report on Friday, July 12th.

Insider Buying and Selling at Spirax-Sarco Engineering

In related news, insider Kevin J. Thompson acquired 640 shares of Spirax-Sarco Engineering stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of GBX 7,655 ($99.27) per share, with a total value of £48,992 ($63,535.21). 0.73% of the stock is currently owned by corporate insiders.

Spirax-Sarco Engineering Trading Up 0.2 %

SPX opened at GBX 6,785 ($87.99) on Friday. The business’s 50 day moving average is GBX 7,237.68 and its two-hundred day moving average is GBX 8,284.72. Spirax-Sarco Engineering has a 52 week low of GBX 6,648.24 ($86.22) and a 52 week high of £112.80 ($146.28). The firm has a market cap of £5.00 billion, a price-to-earnings ratio of 2,609.62, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The company has a quick ratio of 1.73, a current ratio of 2.26 and a debt-to-equity ratio of 98.81.

Spirax-Sarco Engineering Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, November 15th. Investors 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 is Thursday, October 17th. Spirax-Sarco Engineering’s dividend payout ratio (DPR) 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.