Berenberg Bank Reaffirms "Hold" Rating for Spirax-Sarco Engineering (LON:SPX)

Key Points

• Berenberg Bank reaffirmed a "Hold" rating on Spirax‑Sarco (LON:SPX) with a GBX 7,350 target price, implying roughly a 3.23% upside from the prior close.
• The analyst consensus is a "Hold" (3 buys, 5 holds, 1 sell) with a consensus price target of GBX 8,012.50, and several brokers recently adjusted targets while keeping neutral/hold views.
• Shares traded at GBX 7,120 (52‑week range GBX 5,380–8,050) with a market cap of about £5.26bn and a P/E of 32.35; insider Nimesh Patel purchased 1,423 shares at GBX 7,370.

Spirax-Sarco Engineering (LON:SPX - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Berenberg Bank in a report released on Wednesday,London Stock Exchange reports. They presently have a GBX 7,350 target price on the stock. Berenberg Bank's target price indicates a potential upside of 3.23% from the company's previous close.

A number of other brokerages have also recently weighed in on SPX. Royal Bank Of Canada raised their price objective on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the stock an "underperform" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their target price 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. JPMorgan Chase & Co. boosted their price target on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the stock a "neutral" rating in a report on Thursday, December 4th. Shore Capital Group restated a "hold" rating on shares of Spirax-Sarco Engineering in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price objective 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. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of GBX 8,012.50.

Spirax-Sarco Engineering Price Performance

Shares of Spirax-Sarco Engineering stock traded down GBX 190 on Wednesday, hitting GBX 7,120. The company's stock had a trading volume of 408,236 shares, 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 company has a quick ratio of 1.73, a current ratio of 1.77 and a debt-to-equity ratio of 92.52. The firm has a fifty day moving average price of GBX 7,372.30 and a 200-day moving average price of GBX 7,091.39. The company has a market capitalization of £5.26 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last posted its 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 research analysts expect that Spirax-Sarco Engineering will post 334.5410628 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Spirax-Sarco Engineering news, insider Nimesh Patel purchased 1,423 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of GBX 7,370 per share, for a total transaction of £104,875.10. Over the last three months, insiders have purchased 1,427 shares of company stock valued at $10,515,980. 0.61% of the stock is currently owned by insiders.

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.

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