Spirax-Sarco Engineering (LON:SPX) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Spirax-Sarco Engineering plc (LON:SPX) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 7,086.13 and traded as high as GBX 7,780. Spirax-Sarco Engineering shares last traded at GBX 7,712.62, with a volume of 124,649 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on SPX shares. JPMorgan Chase & Co. boosted their price target 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. Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the stock a “hold” rating in a research note on Thursday, November 13th. Finally, Peel Hunt reiterated a “buy” rating and issued a GBX 8,500 price objective on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 8,540.

Spirax-Sarco Engineering Trading Up 0.7%

The company’s fifty day moving average is GBX 7,338.20 and its 200-day moving average is GBX 7,092.27. The company has a current ratio of 1.77, a quick ratio of 1.73 and a debt-to-equity ratio of 92.52. The firm has a market capitalization of £5.58 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.20 and a beta of 1.11.

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.