Spirax-Sarco Engineering (LON:SPX) Insider Buys £147.50 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel purchased 2 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of GBX 7,375 per share, with a total value of £147.50.

Nimesh Patel also recently made the following trade(s):

• On Monday, January 5th, Nimesh Patel acquired 2 shares of Spirax-Sarco Engineering stock. The stock was bought at an average price of GBX 6,860 per share, for a total transaction of £137.20.

Spirax-Sarco Engineering Price Performance

SPX stock traded down GBX 95 during midday trading on Friday, reaching GBX 7,285. The company had a trading volume of 109,408 shares, compared to its average volume of 1,211,004. The firm has a 50-day moving average price of GBX 6,967.84 and a 200-day moving average price of GBX 6,903.41. The company has a market capitalization of £5.38 billion, a P/E ratio of 33.10, a P/E/G ratio of 2.20 and a beta of 0.68. Spirax-Sarco Engineering plc has a 1 year low of GBX 5,380 and a 1 year high of GBX 7,965. The company has a debt-to-equity ratio of 98.85, a current ratio of 2.25 and a quick ratio of 1.73.

Analyst Upgrades and Downgrades

SPX has been the subject of a number of analyst reports. Shore Capital reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, November 13th. JPMorgan Chase & Co. lifted their price objective on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a “neutral” rating in a research report on Thursday, December 4th. UBS Group raised Spirax-Sarco Engineering to a “buy” rating and raised their price objective for the company from GBX 7,500 to £105 in a research report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft upped their price target on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a “hold” rating in a report on Thursday, November 13th. Finally, Peel Hunt restated a “buy” rating and issued a GBX 8,500 price target on shares of Spirax-Sarco Engineering in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 8,540.

About Spirax-Sarco Engineering

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. It creates more distinction between the Group and its Spirax Sarco trading Division (part of Steam Thermal Solutions), providing improved clarity for all stakeholders.