Royal Bank Of Canada Issues Positive Forecast for Spirax-Sarco Engineering (LON:SPX) Stock Price

Spirax-Sarco Engineering (LON:SPX) had its target price increased by equities research analysts at Royal Bank Of Canada from GBX 6,000 to GBX 6,800 in a report issued on Wednesday,London Stock Exchange reports. The firm presently has an “underperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential downside of 4.49% from the stock’s previous close.

A number of other research firms have also recently weighed in on SPX. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a “hold” rating in a research note on Thursday, November 13th. Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a report on Tuesday. Peel Hunt reaffirmed a “buy” rating and issued a GBX 8,500 price objective on shares of Spirax-Sarco Engineering in a research note on Thursday, November 13th. Stifel Nicolaus increased their target price on Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the stock a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of GBX 8,012.50.

Spirax-Sarco Engineering Stock Performance

Shares of LON:SPX traded down GBX 190 during mid-day trading on Wednesday, reaching GBX 7,120. 408,236 shares of the company traded hands, compared to its average volume of 1,258,053. Spirax-Sarco Engineering has a 52 week low of GBX 5,380 and a 52 week high of GBX 8,050. The firm has a market cap of £5.26 billion, a PE ratio of 32.35, a PEG ratio of 2.20 and a beta of 1.13. The company’s 50 day moving average price is GBX 7,372.30 and its 200-day moving average price is GBX 7,091.39. The company has a debt-to-equity ratio of 92.52, a current ratio of 1.77 and a quick ratio of 1.73.

Spirax-Sarco Engineering (LON:SPX) last posted its quarterly earnings results on Tuesday, March 10th. The company reported GBX 296.30 earnings per share for the quarter. Spirax-Sarco Engineering had a net margin of 9.80% and a return on equity of 13.88%. On average, equities analysts expect that Spirax-Sarco Engineering will post 334.5410628 EPS for the current fiscal year.

Insider Activity

In other news, insider Nimesh Patel bought 1,423 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of GBX 7,370 per share, for a total transaction of £104,875.10. Insiders bought 1,427 shares of company stock valued at $10,515,980 over the last quarter. Insiders own 0.61% of the company’s stock.

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