Spirax-Sarco Engineering (LON:SPX) Receives “Underperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their underperform rating on shares of Spirax-Sarco Engineering (LON:SPXGet Rating) in a research report report published on Wednesday, MarketBeat.com reports. The firm currently has a £105 ($136.83) target price on the stock.

A number of other research firms have also commented on SPX. Shore Capital reaffirmed a hold rating on shares of Spirax-Sarco Engineering in a research note on Thursday, March 10th. Barclays reiterated an equal weight rating and set a £135.90 ($177.09) price target on shares of Spirax-Sarco Engineering in a report on Tuesday, March 15th. Morgan Stanley restated an equal weight rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 9th. Finally, Berenberg Bank restated a hold rating and issued a £131.20 ($170.97) price objective on shares of Spirax-Sarco Engineering in a research note on Thursday, March 31st. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of £122.02 ($159.00).

Shares of SPX opened at £125.10 ($163.02) on Wednesday. Spirax-Sarco Engineering has a 52-week low of £107.85 ($140.54) and a 52-week high of £172.25 ($224.46). The company has a quick ratio of 1.46, a current ratio of 2.11 and a debt-to-equity ratio of 46.06. The firm has a 50-day moving average price of £122.31 and a 200 day moving average price of £141.89. The firm has a market capitalization of £9.23 billion and a PE ratio of 39.34.

The business also recently announced a dividend, which will be paid on Friday, May 20th. Stockholders of record on Thursday, April 21st will be given a dividend of GBX 97.50 ($1.27) per share. This is a positive change from Spirax-Sarco Engineering’s previous dividend of $38.50. This represents a dividend yield of 0.86%. The ex-dividend date is Thursday, April 21st. Spirax-Sarco Engineering’s payout ratio is presently 0.39%.

In other news, insider Nimesh Patel sold 5,341 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of £123 ($160.28), for a total transaction of £656,943 ($856,063.33).

About Spirax-Sarco Engineering (Get Rating)

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. It offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating and curing, cleaning and sterilizing, hot water generation, space heating, and humidification; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes, heaters, and systems; and peristaltic and niche pumps and associated fluid path technologies, including pumps, tubing, and specialty filling systems and products for single-use applications.

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Analyst Recommendations for Spirax-Sarco Engineering (LON:SPX)

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