Morgan Stanley reiterated their equal weight rating on shares of Spirax-Sarco Engineering (LON:SPX) in a research note published on Monday morning, ThisIsMoney.Co.Uk reports. Morgan Stanley currently has a GBX 7,000 ($91.47) target price on the stock, up from their prior target price of GBX 6,710 ($87.68).
A number of other research analysts have also recently issued reports on the company. Bank of America reduced their price objective on Spirax-Sarco Engineering from £105 ($137.20) to GBX 9,500 ($124.13) and set a buy rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group reaffirmed a hold rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, July 24th. Goldman Sachs Group reaffirmed a sell rating on shares of Spirax-Sarco Engineering in a research note on Friday, October 11th. UBS Group reaffirmed a neutral rating on shares of Spirax-Sarco Engineering in a research note on Friday, November 1st. Finally, Berenberg Bank reduced their price objective on Spirax-Sarco Engineering from £105.10 ($137.33) to GBX 9,680 ($126.49) and set a buy rating on the stock in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of GBX 7,758.18 ($101.37).
Shares of LON:SPX traded down GBX 45 ($0.59) on Monday, reaching GBX 8,350 ($109.11). 184,754 shares of the company traded hands, compared to its average volume of 143,754. The business’s 50-day simple moving average is GBX 7,795.70 and its 200 day simple moving average is GBX 8,300.50. Spirax-Sarco Engineering has a 52 week low of GBX 5,875 ($76.77) and a 52 week high of GBX 9,440 ($123.35). The stock has a market capitalization of $6.20 billion and a P/E ratio of 27.89. The company has a current ratio of 2.20, a quick ratio of 1.43 and a debt-to-equity ratio of 77.00.
Spirax-Sarco Engineering plc provides engineered solutions for users of industrial and commercial steam systems, electrical heating and temperature management systems, and process fluid paths and pumping systems. It offers condensate management products, such as steam traps, condensate return pumps, and isolation valves; controls, including automatic control valves, pressure regulators, and temperature controls; and thermal energy management products comprising metering products, boiler house products, heat transfer packages, and energy services.
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