Spirax-Sarco Engineering (LON:SPX) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Spirax-Sarco Engineering plc (LON:SPX)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 7,000.77 and traded as high as GBX 7,875. Spirax-Sarco Engineering shares last traded at GBX 7,875, with a volume of 180,160 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Peel Hunt reissued 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. JPMorgan Chase & Co. lifted their price objective on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft boosted their target price on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a “hold” rating in a research note on Thursday, November 13th. UBS Group raised 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. Finally, Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Spirax-Sarco Engineering has a consensus rating of “Moderate Buy” and a consensus target price of GBX 8,540.

Spirax-Sarco Engineering Price Performance

The stock has a market cap of £5.81 billion, a P/E ratio of 35.69, a price-to-earnings-growth 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. The firm has a 50-day moving average price of GBX 7,132.42 and a 200-day moving average price of GBX 7,000.77.

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