Spirax-Sarco Engineering plc (LON:SPX) Receives GBX 8,672.50 Average PT from Analysts

Shares of Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) have earned a consensus recommendation of "Reduce" from the seven ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is GBX 8,672.50 ($112.60).

A number of equities research analysts have issued reports on the stock. Shore Capital restated a "sell" rating on shares of Spirax-Sarco Engineering in a report on Friday, August 30th. Berenberg Bank reiterated a "hold" rating and issued a GBX 8,150 ($105.82) target price on shares of Spirax-Sarco Engineering in a research note on Wednesday, September 25th. Royal Bank of Canada reduced their target price on shares of Spirax-Sarco Engineering from GBX 8,000 ($103.87) to GBX 7,000 ($90.89) and set an "underperform" rating for the company in a research note on Thursday, August 15th. Finally, Jefferies Financial Group reduced their target price on shares of Spirax-Sarco Engineering from GBX 9,690 ($125.81) to GBX 9,580 ($124.38) and set a "hold" rating for the company in a research note on Friday, July 12th.

Insider Buying and Selling at Spirax-Sarco Engineering

In other news, insider Kevin J. Thompson acquired 640 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of GBX 7,655 ($99.39) per share, for a total transaction of £48,992 ($63,609.45). Company insiders own 0.73% of the company's stock.

Spirax-Sarco Engineering Stock Performance

SPX stock traded up GBX 65 ($0.84) during mid-day trading on Friday, reaching GBX 6,770 ($87.90). 161,010 shares of the stock traded hands, compared to its average volume of 250,707. The company has a quick ratio of 1.73, a current ratio of 2.26 and a debt-to-equity ratio of 98.81. Spirax-Sarco Engineering has a 52 week low of GBX 6,648.24 ($86.32) and a 52 week high of £112.80 ($146.46). The business has a 50-day moving average of GBX 7,254.98 and a two-hundred day moving average of GBX 8,315.70. The firm has a market capitalization of £4.99 billion, a PE ratio of 2,603.85, a P/E/G ratio of 2.20 and a beta of 0.68.

Spirax-Sarco Engineering Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be paid a GBX 47.50 ($0.62) dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a yield of 0.56%. Spirax-Sarco Engineering's payout ratio is currently 6,230.77%.

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions it operates through three segments: Steam Thermal Solutions; Electric Thermal Solutions; and Watson-Marlow Fluid Technology Solutions. 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 tubing, and specialty filling systems and products for single-use applications.