Spirax-Sarco Engineering (LON:SPX) Insider Nimesh Patel Purchases 2 Shares

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel bought 2 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average cost of GBX 6,650 per share, for a total transaction of £133.

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

• On Friday, June 5th, Nimesh Patel purchased 3 shares of Spirax-Sarco Engineering stock. The stock was bought at an average cost of GBX 6,925 per share, with a total value of £207.75.
• On Tuesday, May 5th, Nimesh Patel acquired 2 shares of Spirax-Sarco Engineering stock. The shares were bought at an average price of GBX 7,262 per share, for a total transaction of £145.24.

Spirax-Sarco Engineering Price Performance

SPX opened at GBX 6,305 on Wednesday. The company has a debt-to-equity ratio of 83.78, a current ratio of 1.85 and a quick ratio of 1.73. The company has a market capitalization of £4.65 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 2.20 and a beta of 1.15. The firm’s fifty day moving average price is GBX 6,975.36 and its two-hundred day moving average price is GBX 7,111.99. Spirax-Sarco Engineering plc has a 1 year low of GBX 5,950 and a 1 year high of GBX 8,050.

Analyst Upgrades and Downgrades

SPX has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the stock an “underperform” rating in a research report on Wednesday, March 11th. Berenberg Bank restated a “hold” rating and issued a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 11th. UBS Group reaffirmed a “buy” rating and issued a £105 target price on shares of Spirax-Sarco Engineering in a report on Monday, May 11th. Shore Capital Group reaffirmed a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday, March 10th. Finally, Stifel Nicolaus lifted their price target on Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the stock a “hold” rating in a report on Wednesday, March 11th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 8,012.50.

Spirax-Sarco Engineering Company Profile

Spirax Group is positioned to play a critical role in enabling the industrial transition to net zero, aligned to our Purpose to create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world. We put solving customers’ problems at the heart of our total solutions approach. Our global thermal energy and fluid technology solutions improve operating efficiency and safety in our customers’ critical industrial processes. Our new-to-world decarbonisation* solutions will use our proprietary technologies to electrify boilers for the raising of steam, as well as the electrification of other critical industrial process heating applications.