Spirax-Sarco Engineering plc (LON:SPX) Receives £101.50 Consensus Target Price from Analysts

Spirax-Sarco Engineering plc (LON:SPX) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is £101.50 ($126.35).

SPX has been the subject of a number of recent analyst reports. Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Monday, December 18th. Barclays lowered their price objective on Spirax-Sarco Engineering from £105.80 ($131.71) to GBX 9,960 ($123.99) and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. Berenberg Bank raised their price objective on Spirax-Sarco Engineering from GBX 8,800 ($109.55) to GBX 9,800 ($122.00) and gave the company a “hold” rating in a research note on Friday, March 8th. Jefferies Financial Group upgraded Spirax-Sarco Engineering to a “hold” rating and set a GBX 9,740 ($121.25) price objective for the company in a research note on Wednesday, January 31st. Finally, Numis Securities restated a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, March 7th.

Insider Transactions at Spirax-Sarco Engineering

In other news, insider Nimesh Patel sold 660 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of £105.27 ($131.05), for a total value of £69,478.20 ($86,490.97). Insiders own 0.98% of the company’s stock.

Spirax-Sarco Engineering Stock Performance

Shares of LON:SPX opened at GBX 9,390 ($116.89) on Tuesday. The company has a market cap of £6.91 billion, a P/E ratio of 3,829.32, a PEG ratio of 6.66 and a beta of 0.69. The company has a debt-to-equity ratio of 97.01, a quick ratio of 1.73 and a current ratio of 2.26. Spirax-Sarco Engineering has a one year low of GBX 7,900 ($98.34) and a one year high of £117.45 ($146.21). The business’s 50-day simple moving average is £101.99 and its 200 day simple moving average is GBX 9,641.28.

Spirax-Sarco Engineering Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a GBX 114 ($1.42) dividend. This is a positive change from Spirax-Sarco Engineering’s previous dividend of $46.00. The ex-dividend date is Thursday, April 25th. This represents a dividend yield of 1.11%. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is presently 6,425.70%.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering plc provides engineered solutions for the users of industrial and commercial steam systems, electrical heating and temperature management systems, and pumps and fluid path technologies. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including pumps, tubing, and specialty filling systems and products for single-use applications.