Spirax-Sarco Engineering (LON:SPX) Reaches New 52-Week Low - Here's What Happened

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) shares hit a new 52-week low on Tuesday . The stock traded as low as GBX 6,420 ($83.57) and last traded at GBX 6,442.62 ($83.87), with a volume of 46642 shares changing hands. The stock had previously closed at GBX 6,550 ($85.26).

Analysts Set New Price Targets

Several brokerages recently weighed in on SPX. Jefferies Financial Group reduced their price target on shares of Spirax-Sarco Engineering from GBX 9,690 ($126.14) to GBX 9,580 ($124.71) and set a "hold" rating for the company in a research report on Friday, July 12th. Shore Capital reissued a "sell" rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Berenberg Bank reissued a "hold" rating and set a GBX 8,150 ($106.09) price target on shares of Spirax-Sarco Engineering in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada cut their target price on shares of Spirax-Sarco Engineering from GBX 8,000 ($104.14) to GBX 7,000 ($91.12) and set an "underperform" rating for the company in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of GBX 8,672.50 ($112.89).

Spirax-Sarco Engineering Stock Performance

The company has a debt-to-equity ratio of 98.81, a quick ratio of 1.73 and a current ratio of 2.26. The firm has a market cap of £4.79 billion, a P/E ratio of 2,503.85, a P/E/G ratio of 2.20 and a beta of 0.68. The business's 50-day simple moving average is GBX 7,142.58 and its 200 day simple moving average is GBX 8,176.72.

Spirax-Sarco Engineering Cuts Dividend

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

Insider Activity

In other Spirax-Sarco Engineering news, insider Kevin J. Thompson acquired 640 shares of the business's stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of GBX 7,655 ($99.65) per share, with a total value of £48,992 ($63,775.06). Insiders own 0.73% of the company's stock.

Spirax-Sarco Engineering Company Profile

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.