Spirax-Sarco Engineering (LON:SPX) Given Buy Rating at Bank of America

Spirax-Sarco Engineering (LON:SPX)‘s stock had its “buy” rating restated by investment analysts at Bank of America in a research report issued to clients and investors on Thursday, Marketbeat.com reports.

Several other equities research analysts have also weighed in on SPX. Jefferies Financial Group upgraded shares of Spirax-Sarco Engineering to a “hold” rating and set a GBX 9,740 ($123.28) price objective on the stock in a research note on Wednesday, January 31st. Barclays dropped their price target on shares of Spirax-Sarco Engineering from £105.80 ($133.91) to GBX 9,960 ($126.06) and set an “equal weight” rating on the stock in a research note on Tuesday. Berenberg Bank raised their price target on shares of Spirax-Sarco Engineering from GBX 8,800 ($111.38) to GBX 9,800 ($124.03) and gave the company a “hold” rating in a research note on Friday, March 8th. Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Monday, December 18th. Finally, Numis Securities restated a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of £101.50 ($128.46).

Spirax-Sarco Engineering Price Performance

SPX opened at GBX 9,505 ($120.30) on Thursday. The firm has a market cap of £7.01 billion, a price-to-earnings ratio of 3,832.66, a price-to-earnings-growth ratio of 6.92 and a beta of 0.71. Spirax-Sarco Engineering has a fifty-two week low of GBX 7,900 ($99.99) and a fifty-two week high of £118.45 ($149.92). The company’s 50-day moving average price is £102.04 and its 200 day moving average price is GBX 9,635.30. The company has a quick ratio of 1.73, a current ratio of 2.26 and a debt-to-equity ratio of 97.01.

Insider Activity

In other news, insider Nimesh Patel sold 660 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of £105.27 ($133.24), for a total value of £69,478.20 ($87,935.96). Insiders own 0.94% of the company’s stock.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering plc provides engineered solutions for the users of industrial and commercial steam systems, electrical heating and temperature management systems, and pumps and fluid path technologies. 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 pumps, tubing, and specialty filling systems and products for single-use applications.