Insider Buying: Spirax-Sarco Engineering (LON:SPX) Insider Buys 1,423 Shares of Stock

Key Points

• Insider purchase: Nimesh Patel bought 1,423 shares of Spirax-Sarco (LON:SPX) on March 10 at GBX 7,370 per share, totaling £104,875.10, after making small purchases in January and February.
• Stock & company context: The firm rebranded to Spirax Group on Feb 22, 2024; shares traded near GBX 7,325 with a market cap of £5.41bn and a consensus analyst rating of "Moderate Buy" with an average target of GBX 8,540.

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) insider Nimesh Patel bought 1,423 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of GBX 7,370 per share, for a total transaction of £104,875.10.

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

• On Thursday, February 5th, Nimesh Patel purchased 2 shares of Spirax-Sarco Engineering stock. The stock was acquired at an average cost of GBX 7,375 per share, with a total value of £147.50.
• On Monday, January 5th, Nimesh Patel bought 2 shares of Spirax-Sarco Engineering stock. The shares were purchased at an average price of GBX 6,860 per share, for a total transaction of £137.20.

Spirax-Sarco Engineering Stock Performance

LON:SPX traded up GBX 270 during trading hours on Tuesday, reaching GBX 7,325. 529,636 shares of the company's stock were exchanged, compared to its average volume of 1,274,936. The company has a 50-day moving average of GBX 7,363 and a 200 day moving average of GBX 7,091.50. 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 market capitalization of £5.41 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 2.20 and a beta of 1.13. Spirax-Sarco Engineering plc has a 1-year low of GBX 5,380 and a 1-year high of GBX 8,050.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last released its quarterly earnings data on Tuesday, March 10th. The company reported GBX 296.30 earnings per share (EPS) for the quarter. Spirax-Sarco Engineering had a return on equity of 13.88% and a net margin of 9.80%. Research analysts anticipate that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SPX shares. Deutsche Bank Aktiengesellschaft lifted their target price on 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. JPMorgan Chase & Co. upped their target price on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the stock a "neutral" rating in a research report on Thursday, December 4th. Shore Capital Group reiterated a "hold" rating on shares of Spirax-Sarco Engineering in a report on Tuesday. Finally, Peel Hunt reaffirmed a "buy" rating and set a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Spirax-Sarco Engineering currently has an average rating of "Moderate Buy" and a consensus price target 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.

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