Spirax-Sarco Engineering (LON:SPX) Stock Rating Reaffirmed by Berenberg Bank

Berenberg Bank restated their hold rating on shares of Spirax-Sarco Engineering (LON:SPX - Free Report) in a report issued on Wednesday morning, Marketbeat reports. The brokerage currently has a GBX 8,150 ($109.13) target price on the stock.

SPX has been the topic of a number of other reports. Royal Bank of Canada cut their price objective on Spirax-Sarco Engineering from GBX 8,000 ($107.12) to GBX 7,000 ($93.73) and set an underperform rating on the stock in a research report on Thursday, August 15th. Jefferies Financial Group dropped their target price on shares of Spirax-Sarco Engineering from GBX 9,690 ($129.75) to GBX 9,580 ($128.28) and set a hold rating for the company in a research report on Friday, July 12th. Finally, Shore Capital reiterated a sell rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of GBX 9,158 ($122.63).

Spirax-Sarco Engineering Price Performance

Shares of Spirax-Sarco Engineering stock traded up GBX 280 ($3.75) during trading on Wednesday, hitting GBX 7,490 ($100.29). 154,759 shares of the stock traded hands, compared to its average volume of 259,281. The firm's fifty day moving average is GBX 7,871.45 and its 200-day moving average is GBX 8,793.85. The stock has a market cap of £5.52 billion, a price-to-earnings ratio of 2,880.77, a PEG ratio of 2.30 and a beta of 0.68. Spirax-Sarco Engineering has a 52 week low of GBX 7,075 ($94.74) and a 52 week high of £112.80 ($151.04). 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 Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be paid a GBX 47.50 ($0.64) dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a dividend yield of 0.56%. Spirax-Sarco Engineering's dividend payout ratio is presently 6,230.77%.

Insider Buying and Selling

In other news, insider Kevin J. Thompson acquired 640 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of GBX 7,655 ($102.50) per share, with a total value of £48,992 ($65,602.57). 0.73% of the stock is currently owned by corporate insiders.

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.