Insider Buying: Spirax-Sarco Engineering (LON:SPX) Insider Buys 2 Shares of Stock

Key Points

• Nimesh Patel, an insider at Spirax-Sarco Engineering, purchased 2 shares of stock on October 6th for a total cost of £145.90, indicating confidence in the company.
• Spirax-Sarco Engineering's stock is currently trading at GBX 7,120, showing a decrease of 2.3% in trading hours, with market analysis predicting earnings per share of 334.54 for the current fiscal year.
• The stock has an average target price of GBX 7,900, with recent ratings including a "buy" by Citigroup, reflecting a diverse outlook among analysts regarding its investment potential.

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) insider Nimesh Patel acquired 2 shares of the company's stock in a transaction that occurred on Monday, October 6th. The stock was purchased at an average cost of GBX 7,295 per share, for a total transaction of £145.90.

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

• On Friday, September 5th, Nimesh Patel bought 2 shares of Spirax-Sarco Engineering stock. The stock was purchased at an average price of GBX 7,159 per share, with a total value of £143.18.
• On Tuesday, August 5th, Nimesh Patel acquired 3 shares of Spirax-Sarco Engineering stock. The stock was purchased at an average price of GBX 6,119 per share, for a total transaction of £183.57.

Spirax-Sarco Engineering Trading Down 2.3%

SPX traded down GBX 165 during trading hours on Tuesday, reaching GBX 7,120. The company's stock had a trading volume of 122,902 shares, compared to its average volume of 659,118. The stock has a market cap of £5.25 billion, a PE ratio of 3,234.89, a P/E/G ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 98.85, a current ratio of 2.25 and a quick ratio of 1.73. Spirax-Sarco Engineering plc has a fifty-two week low of GBX 5,380 and a fifty-two week high of GBX 8,245. The business's 50-day moving average is GBX 6,907.73 and its 200-day moving average is GBX 6,316.45.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported GBX 137.60 EPS for the quarter. Spirax-Sarco Engineering had a net margin of 11.57% and a return on equity of 16.58%. As a group, equities research analysts predict that Spirax-Sarco Engineering plc will post 334.5410628 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Shore Capital reaffirmed an "under review" rating on shares of Spirax-Sarco Engineering in a report on Tuesday, August 12th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a GBX 7,400 target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, July 2nd. Finally, Citigroup upped their price objective on shares of Spirax-Sarco Engineering from GBX 8,000 to GBX 8,400 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Spirax-Sarco Engineering currently has an average rating of "Moderate Buy" and an average price target of GBX 7,900.

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.

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