Spirax-Sarco Engineering (LON:SPX) Shares Cross Above 200 Day Moving Average – Should You Sell?

Spirax-Sarco Engineering plc (LON:SPX)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 6,779.94 and traded as high as GBX 7,130. Spirax-Sarco Engineering shares last traded at GBX 7,015.59, with a volume of 110,698 shares.

Wall Street Analysts Forecast Growth

SPX has been the topic of a number of recent analyst reports. UBS Group raised shares of Spirax-Sarco Engineering to a “buy” rating and increased their price objective for the stock from GBX 7,500 to £105 in a research report on Tuesday, October 28th. Shore Capital reiterated a “hold” rating on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price objective on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a “neutral” rating in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a “hold” rating in a research report on Thursday, November 13th. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 8,540.

Spirax-Sarco Engineering Price Performance

The firm has a fifty day simple moving average of GBX 6,848.38 and a 200 day simple moving average of GBX 6,779.94. The company has a market capitalization of £5.18 billion, a PE ratio of 31.87, a P/E/G ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 98.85, a quick ratio of 1.73 and a current ratio of 2.25.

About Spirax-Sarco Engineering

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. It creates more distinction between the Group and its Spirax Sarco trading Division (part of Steam Thermal Solutions), providing improved clarity for all stakeholders.