Brokerages Set Spirax-Sarco Engineering plc (LON:SPX) Price Target at GBX 8,107.50

Shares of Spirax-Sarco Engineering plc (LON:SPX) have earned an average rating of “Reduce” from the six analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is GBX 8,107.50 ($107.56).

SPX has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on Spirax-Sarco Engineering from GBX 7,800 ($103.48) to GBX 7,700 ($102.15) and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Citigroup reissued a “buy” rating on shares of Spirax-Sarco Engineering in a research report on Wednesday, March 12th. Finally, Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday, March 11th.

Insider Activity at Spirax-Sarco Engineering

In other news, insider Nimesh Patel sold 697 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of GBX 6,723 ($89.19), for a total transaction of £46,859.31 ($62,164.12). 0.73% of the stock is owned by insiders.

Spirax-Sarco Engineering Price Performance

Shares of Spirax-Sarco Engineering stock opened at GBX 6,115 ($81.12) on Wednesday. The stock has a market capitalization of £4.50 billion, a P/E ratio of 23.45, a PEG ratio of 2.20 and a beta of 0.68. The business has a 50 day simple moving average of GBX 6,381.35 and a two-hundred day simple moving average of GBX 6,843.09. Spirax-Sarco Engineering has a 12 month low of GBX 5,380 ($71.37) and a 12 month high of GBX 9,850 ($130.67). The company has a debt-to-equity ratio of 98.85, a current ratio of 2.25 and a quick ratio of 1.73.

Spirax-Sarco Engineering (LON:SPX) last posted its quarterly earnings data on Tuesday, March 11th. The company reported GBX 286.30 ($3.80) EPS for the quarter. Spirax-Sarco Engineering had a return on equity of 16.58% and a net margin of 11.57%. As a group, analysts predict that Spirax-Sarco Engineering will post 334.5410628 EPS for the current fiscal year.

Spirax-Sarco Engineering Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a GBX 117.50 ($1.56) dividend. This is a positive change from Spirax-Sarco Engineering’s previous dividend of $47.50. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, April 24th. Spirax-Sarco Engineering’s dividend payout ratio is currently 62.13%.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering rebrands as Spirax Group

On 22 February 2024, Spirax-Sarco Engineering changed its name to Spirax Group which reflects the Company’s evolution over many years to a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities.

Our new name respects our history and where we have come from, with who we are today.