Insider Buying: Spirax-Sarco Engineering (LON:SPX) Insider Purchases £142.24 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel bought 2 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average price of GBX 7,112 per share, for a total transaction of £142.24.

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

• On Monday, July 6th, Nimesh Patel bought 2 shares of Spirax-Sarco Engineering stock. The shares were bought at an average cost of GBX 6,650 per share, for a total transaction of £133.
• On Friday, June 5th, Nimesh Patel purchased 3 shares of Spirax-Sarco Engineering stock. The stock was bought at an average price of GBX 6,925 per share, with a total value of £207.75.

Spirax-Sarco Engineering Trading Up 1.7%

SPX opened at GBX 7,500 on Monday. Spirax-Sarco Engineering plc has a 1-year low of GBX 5,950 and a 1-year high of GBX 8,050. The company has a current ratio of 1.85, a quick ratio of 1.73 and a debt-to-equity ratio of 83.78. The company has a market cap of £5.53 billion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The company has a fifty day moving average price of GBX 6,880.90 and a two-hundred day moving average price of GBX 7,111.64.

Analysts Set New Price Targets

Separately, 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. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 8,012.50.

About Spirax-Sarco Engineering

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.