Spirax-Sarco Engineering (LON:SPX) Sets New 52-Week Low – Here’s Why

Spirax-Sarco Engineering plc (LON:SPX) reached a new 52-week low on Tuesday . The stock traded as low as GBX 6,420 ($83.26) and last traded at GBX 6,442.62 ($83.55), with a volume of 46642 shares changing hands. The stock had previously closed at GBX 6,550 ($84.94).

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 8,150 ($105.69) target price on shares of Spirax-Sarco Engineering in a report on Wednesday, September 25th. Royal Bank of Canada dropped their price objective on shares of Spirax-Sarco Engineering from GBX 8,000 ($103.75) to GBX 7,000 ($90.78) and set an “underperform” rating for the company in a report on Thursday, August 15th. Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Finally, Jefferies Financial Group cut their price target on shares of Spirax-Sarco Engineering from GBX 9,690 ($125.66) to GBX 9,580 ($124.24) and set a “hold” rating on the stock in a report on Friday, July 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Spirax-Sarco Engineering presently has an average rating of “Hold” and a consensus target price of GBX 8,672.50 ($112.47).

Spirax-Sarco Engineering Trading Down 0.6 %

The stock has a market capitalization of £4.79 billion, a P/E ratio of 2,478.85, a P/E/G ratio of 2.20 and a beta of 0.68. The firm’s 50 day simple moving average is GBX 7,142.58 and its two-hundred day simple moving average is GBX 8,176.72. 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 firm also recently announced 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 presently 6,230.77%.

Insiders Place Their Bets

In other news, insider Kevin J. Thompson purchased 640 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of GBX 7,655 ($99.27) per share, with a total value of £48,992 ($63,535.21). Corporate 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.