Analysts Set Spirax-Sarco Engineering plc (LON:SPX) Price Target at GBX 9,158

Spirax-Sarco Engineering plc (LON:SPX) has earned an average rating of “Reduce” from the eight brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is GBX 9,158 ($122.50).

Several brokerages have commented on SPX. Shore Capital reaffirmed a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Jefferies Financial Group lowered their target price on Spirax-Sarco Engineering from GBX 9,690 ($129.61) to GBX 9,580 ($128.14) and set a “hold” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada dropped their price target on Spirax-Sarco Engineering from GBX 8,000 ($107.01) to GBX 7,000 ($93.63) and set an “underperform” rating on the stock in a research report on Thursday, August 15th. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 8,150 ($109.02) price objective on shares of Spirax-Sarco Engineering in a report on Wednesday, September 25th.

Spirax-Sarco Engineering Stock Down 3.4 %

SPX stock opened at GBX 7,120 ($95.24) on Tuesday. The company has a debt-to-equity ratio of 98.81, a quick ratio of 1.73 and a current ratio of 2.26. Spirax-Sarco Engineering has a fifty-two week low of GBX 7,075 ($94.64) and a fifty-two week high of £112.80 ($150.88). The company has a market cap of £5.24 billion, a P/E ratio of 2,738.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.68. The stock’s 50 day simple moving average is GBX 7,716.05 and its 200 day simple moving average is GBX 8,662.53.

Spirax-Sarco Engineering Cuts Dividend

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

Insider Buying and Selling at Spirax-Sarco Engineering

In other Spirax-Sarco Engineering news, insider Kevin J. Thompson bought 640 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of GBX 7,655 ($102.39) per share, for a total transaction of £48,992 ($65,532.37). Insiders own 0.73% of the company’s stock.

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.