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

Spirax-Sarco Engineering (LON:SPX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Berenberg Bank in a note issued to investors on Wednesday, Marketbeat reports. They presently have a GBX 8,150 ($109.13) price objective on the stock. Berenberg Bank’s target price would suggest a potential upside of 8.81% from the stock’s current price.

Several other equities analysts also recently issued reports on SPX. Shore Capital reissued a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. 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 report on Thursday, August 15th. Finally, Jefferies Financial Group decreased their target price on 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 report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 9,158 ($122.63).

Spirax-Sarco Engineering Stock Up 3.9 %

Shares of SPX stock opened at GBX 7,490 ($100.29) on Wednesday. The stock’s fifty day moving average price is GBX 7,871.45 and its 200 day moving average price is GBX 8,793.85. Spirax-Sarco Engineering has a 1-year low of GBX 7,075 ($94.74) and a 1-year high of £112.80 ($151.04). The company has a market cap of £5.52 billion, a price-to-earnings ratio of 2,880.77, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The company has a debt-to-equity ratio of 98.81, a current ratio of 2.26 and a quick ratio of 1.73.

Insider Activity at Spirax-Sarco Engineering

In other news, insider Kevin J. Thompson bought 640 shares of Spirax-Sarco Engineering stock in a transaction on Friday, August 9th. The shares were bought at an average cost 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 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.