Spirax-Sarco Engineering (LON:SPX) Insider Buys £147.50 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel acquired 2 shares of Spirax-Sarco Engineering stock in a transaction on Thursday, February 5th. The stock was purchased at an average cost of GBX 7,375 per share, with a total value of £147.50.

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

• On Monday, January 5th, Nimesh Patel bought 2 shares of Spirax-Sarco Engineering stock. The shares were purchased at an average cost of GBX 6,860 per share, for a total transaction of £137.20.

Spirax-Sarco Engineering Stock Down 1.3%

SPX stock traded down GBX 95 during mid-day trading on Friday, reaching GBX 7,285. 109,408 shares of the company traded hands, compared to its average volume of 1,211,004. The company has a quick ratio of 1.73, a current ratio of 2.25 and a debt-to-equity ratio of 98.85. The firm’s 50 day moving average price is GBX 6,967.84 and its 200 day moving average price is GBX 6,903.41. Spirax-Sarco Engineering plc has a fifty-two week low of GBX 5,380 and a fifty-two week high of GBX 7,965. The stock has a market cap of £5.38 billion, a price-to-earnings ratio of 33.10, a P/E/G ratio of 2.20 and a beta of 0.68.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the stock a “hold” rating in a research report on Thursday, November 13th. Shore Capital restated a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. UBS Group upgraded shares of Spirax-Sarco Engineering to a “buy” rating and raised their price target for the stock from GBX 7,500 to £105 in a research note on Tuesday, October 28th. Peel Hunt restated a “buy” rating and issued a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a research note on Thursday, November 13th. Finally, 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 research note on Thursday, December 4th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 8,540.

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.