Spirax-Sarco Engineering (LON:SPX) Shares Pass Below 200 Day Moving Average – Should You Sell?

Shares of Spirax-Sarco Engineering plc (LON:SPX) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 7,111.99 and traded as low as GBX 6,500. Spirax-Sarco Engineering shares last traded at GBX 6,510, with a volume of 169,431 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPX. UBS Group reiterated a “buy” rating and issued a £105 price objective on shares of Spirax-Sarco Engineering in a report on Monday, May 11th. Berenberg Bank reissued a “hold” rating and set a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 11th. Stifel Nicolaus lifted their target price on Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the company a “hold” rating in a research report on Wednesday, March 11th. Finally, Royal Bank Of Canada upped their price target on Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the company an “underperform” rating in a research note on Wednesday, March 11th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 8,012.50.

Spirax-Sarco Engineering Trading Down 0.2%

The firm has a market capitalization of £4.69 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.20 and a beta of 1.15. The business’s 50-day simple moving average is GBX 6,938.03 and its two-hundred day simple moving average is GBX 7,106.36. The company has a quick ratio of 1.73, a current ratio of 1.85 and a debt-to-equity ratio of 83.78.

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.