Spirax-Sarco Engineering (LON:SPX) Insider Nimesh Patel Sells 804 Shares

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel sold 804 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of GBX 6,655, for a total value of £53,506.20.

Nimesh Patel also recently made the following trade(s):

• On Tuesday, March 10th, Nimesh Patel bought 1,423 shares of Spirax-Sarco Engineering stock. The stock was acquired at an average price of GBX 7,370 per share, for a total transaction of £104,875.10.
• On Thursday, February 5th, Nimesh Patel bought 2 shares of Spirax-Sarco Engineering stock. The shares were acquired at an average cost of GBX 7,375 per share, for a total transaction of £147.50.
• On Monday, January 5th, Nimesh Patel purchased 2 shares of Spirax-Sarco Engineering stock. The shares were acquired at an average price of GBX 6,860 per share, with a total value of £137.20.

Spirax-Sarco Engineering Trading Up 1.3%

Shares of SPX stock opened at GBX 6,785 on Thursday. Spirax-Sarco Engineering plc has a 1 year low of GBX 5,380 and a 1 year high of GBX 8,050. The firm has a market capitalization of £5.01 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. The stock has a fifty day moving average of GBX 7,368.70 and a two-hundred day moving average of GBX 7,075.82. The company has a debt-to-equity ratio of 83.78, a quick ratio of 1.73 and a current ratio of 1.85.

Spirax-Sarco Engineering (LON:SPX) last issued its quarterly earnings results on Tuesday, March 10th. The company reported GBX 296.30 EPS for the quarter. Spirax-Sarco Engineering had a return on equity of 13.86% and a net margin of 9.60%. As a group, research analysts expect that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SPX shares. Berenberg Bank reiterated a “hold” rating and issued a GBX 7,350 price objective on shares of Spirax-Sarco Engineering in a report on Wednesday, March 11th. Stifel Nicolaus upped their target price on Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the stock a “hold” rating in a research report on Wednesday, March 11th. JPMorgan Chase & Co. increased their price target on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Royal Bank Of Canada lifted their price target on Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the company an “underperform” rating in a research report on Wednesday, March 11th. Finally, Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research note on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of GBX 8,012.50.

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.