Spirax-Sarco Engineering (LON:SPX) Hits New 1-Year Low - Time to Sell?

Shares of Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as GBX 6,265 ($80.82) and last traded at GBX 6,285 ($81.08), with a volume of 414470 shares. The stock had previously closed at GBX 6,398.20 ($82.54).

Wall Street Analyst Weigh In

SPX has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Spirax-Sarco Engineering from GBX 7,800 ($100.62) to GBX 7,700 ($99.33) and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Shore Capital reissued a "sell" rating on shares of Spirax-Sarco Engineering in a research report on Tuesday, March 11th. Finally, Citigroup reissued a "buy" rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of GBX 8,478 ($109.37).

Spirax-Sarco Engineering Price Performance

The firm's fifty day simple moving average is GBX 7,254.16 and its 200-day simple moving average is GBX 7,068.51. The firm has a market capitalization of £4.26 billion, a PE ratio of 22.17, a PEG ratio of 2.20 and a beta of 0.68. The company has a quick ratio of 1.73, a current ratio of 2.25 and a debt-to-equity ratio of 98.85.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported GBX 286.30 ($3.69) earnings per share for the quarter. Spirax-Sarco Engineering had a net margin of 11.57% and a return on equity of 16.58%. On average, research analysts forecast that Spirax-Sarco Engineering plc will post 334.5410628 earnings per share for the current fiscal year.

Spirax-Sarco Engineering Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of GBX 117.50 ($1.52) per share. This is an increase from Spirax-Sarco Engineering's previous dividend of $47.50. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, April 24th. Spirax-Sarco Engineering's dividend payout ratio is presently 62.13%.

Insider Activity at Spirax-Sarco Engineering

In related news, insider Nimesh Patel sold 697 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of GBX 6,723 ($86.73), for a total value of £46,859.31 ($60,448.03). 0.73% of the stock is currently owned by insiders.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering rebrands as Spirax Group On 22 February 2024, Spirax-Sarco Engineering changed its name to Spirax Group which reflects the Company's evolution over many years to a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities. Our new name respects our history and where we have come from, with who we are today.