Spirax-Sarco Engineering (LON:SPX) Earns Hold Rating from Berenberg Bank

Berenberg Bank reaffirmed their hold rating on shares of Spirax-Sarco Engineering (LON:SPX) in a research note published on Wednesday morning, Marketbeat.com reports. They currently have a GBX 8,150 ($109.13) price objective on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Spirax-Sarco Engineering from GBX 9,690 ($129.75) to GBX 9,580 ($128.28) and set a hold rating for the company in a research report on Friday, July 12th. Royal Bank of Canada reduced their price target on shares of Spirax-Sarco Engineering from GBX 8,000 ($107.12) to GBX 7,000 ($93.73) and set an underperform rating for the company in a research report on Thursday, August 15th. Finally, Shore Capital reissued a sell rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Spirax-Sarco Engineering has an average rating of Hold and a consensus price target of GBX 9,158 ($122.63).

Spirax-Sarco Engineering Price Performance

Shares of SPX opened at GBX 7,645 ($102.37) on Wednesday. Spirax-Sarco Engineering has a 1-year low of GBX 7,075 ($94.74) and a 1-year high of £112.80 ($151.04). The stock has a market cap of £5.63 billion, a PE ratio of 2,940.38, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The company has a debt-to-equity ratio of 98.81, a current ratio of 2.26 and a quick ratio of 1.73. The firm has a fifty day moving average price of GBX 7,848.05 and a 200 day moving average price of GBX 8,775.62.

Spirax-Sarco Engineering Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be paid a GBX 47.50 ($0.64) dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a yield of 0.56%. Spirax-Sarco Engineering’s dividend payout ratio is presently 6,230.77%.

Insider Buying and Selling at Spirax-Sarco Engineering

In other Spirax-Sarco Engineering news, insider Kevin J. Thompson acquired 640 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of GBX 7,655 ($102.50) per share, for a total transaction of £48,992 ($65,602.57). 0.73% of the stock is currently owned by company insiders.

About Spirax-Sarco Engineering

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.