Berenberg Bank Reaffirms Hold Rating for Spirax-Sarco Engineering (LON:SPX)

Spirax-Sarco Engineering (LON:SPX – Get Rating)‘s stock had its “hold” rating reissued by equities research analysts at Berenberg Bank in a report released on Wednesday, Digital Look reports. They presently have a £131.20 ($161.76) price objective on the stock. Berenberg Bank’s price target indicates a potential upside of 23.02% from the company’s previous close.

SPX has been the topic of a number of other research reports. Shore Capital restated a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Wednesday. Barclays restated an “equal weight” rating and issued a £135.90 ($167.55) price target on shares of Spirax-Sarco Engineering in a report on Tuesday, March 15th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a £105 ($129.45) target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, April 13th. JPMorgan Chase & Co. decreased their target price on shares of Spirax-Sarco Engineering from £135 ($166.44) to £132 ($162.74) and set a “neutral” rating for the company in a research note on Thursday. Finally, Morgan Stanley restated an “equal weight” rating on shares of Spirax-Sarco Engineering in a report on Wednesday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of £126.82 ($156.36).

LON SPX opened at £106.65 ($131.49) on Wednesday. The company has a market capitalization of £7.87 billion and a P/E ratio of 33.59. The company has a debt-to-equity ratio of 46.06, a current ratio of 2.11 and a quick ratio of 1.46. Spirax-Sarco Engineering has a 1-year low of £105.65 ($130.26) and a 1-year high of £172.25 ($212.37). The business has a 50 day moving average price of £122.08 and a 200 day moving average price of £137.36.

In related news, insider Nimesh Patel sold 5,341 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of £123 ($151.65), for a total transaction of £656,943 ($809,940.82). Also, insider Jane Kingston acquired 1,580 shares of the firm’s stock in a transaction on Thursday, April 14th. The shares were purchased at an average cost of £125 ($154.11) per share, for a total transaction of £197,500 ($243,496.49).

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.

Featured Stories