Spectris (LON:SXS) Hits New 1-Year Low - Here's Why

Spectris plc (LON:SXS - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as GBX 2,496 ($32.67) and last traded at GBX 2,506 ($32.80), with a volume of 382257 shares changing hands. The stock had previously closed at GBX 2,568 ($33.61).

Wall Street Analyst Weigh In

Several analysts have recently commented on SXS shares. Shore Capital raised shares of Spectris to a "buy" rating in a research note on Monday, September 9th. Berenberg Bank raised shares of Spectris to a "buy" rating and increased their price target for the company from GBX 3,520 ($46.07) to GBX 3,920 ($51.30) in a research note on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on shares of Spectris from GBX 4,435 ($58.04) to GBX 4,190 ($54.84) and set a "buy" rating on the stock in a research note on Friday, July 12th. Finally, Bank of America reaffirmed a "buy" rating and issued a GBX 2,950 ($38.61) price objective on shares of Spectris in a research note on Monday, September 2nd. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Spectris currently has an average rating of "Moderate Buy" and a consensus price target of GBX 4,707.50 ($61.61).

Spectris Trading Up 1.6 %

The business's 50 day simple moving average is GBX 2,832.35 and its 200-day simple moving average is GBX 3,043.40. The stock has a market capitalization of £2.53 billion, a P/E ratio of 948.51, a PEG ratio of 2.74 and a beta of 0.61. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.36 and a quick ratio of 1.03.

Spectris Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 8th. Stockholders of record on Thursday, October 3rd will be given a dividend of GBX 26.60 ($0.35) per share. The ex-dividend date is Thursday, October 3rd. This represents a dividend yield of 0.89%. Spectris's dividend payout ratio is 3,022.39%.

Insider Transactions at Spectris

In other news, insider Mark Williamson purchased 706 shares of Spectris stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of GBX 2,832 ($37.06) per share, with a total value of £19,993.92 ($26,166.63). Insiders have bought a total of 716 shares of company stock valued at $2,028,097 over the last three months. 1.26% of the stock is currently owned by corporate insiders.

About Spectris

Spectris plc provides precision measurement solutions worldwide. It operates through Spectris Scientific, Spectris Dynamics, and Other segments. The Spectris Scientific segment provides advanced sensors and instruments used to measure, analyze, and characterize materials; and monitor ultra-clean manufacturing environments.