Spirax-Sarco Engineering (LON:SPX) Shares Pass Above 200 Day Moving Average – Here’s Why

Spirax-Sarco Engineering plc (LON:SPX) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 6,818.38 and traded as high as GBX 7,130. Spirax-Sarco Engineering shares last traded at GBX 7,112.26, with a volume of 15,012,831 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SPX shares. JPMorgan Chase & Co. raised their price objective on shares of 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. UBS Group raised shares of Spirax-Sarco Engineering to a “buy” rating and raised their price target for the company from GBX 7,500 to £105 in a research report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the stock a “hold” rating in a report on Thursday, November 13th. Peel Hunt reiterated a “buy” rating and set a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a research note on Thursday, November 13th. Finally, Shore Capital reissued a “hold” rating on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 8,540.

Spirax-Sarco Engineering Trading Up 1.5%

The company has a current ratio of 2.25, a quick ratio of 1.73 and a debt-to-equity ratio of 98.85. The stock has a market capitalization of £5.36 billion, a PE ratio of 32.96, a P/E/G ratio of 2.20 and a beta of 0.68. The stock has a 50 day moving average price of GBX 6,857.63 and a 200-day moving average price of GBX 6,818.38.

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.