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

Key Points

• Spirax-Sarco insider Nimesh Patel bought 2 shares at GBX 7,470 each, spending £149.40; he also bought 2 shares in September.
• Analysts’ consensus rating is Hold, with an average price target of GBX 8,155; ratings include three Buys, five Holds and one Sell.
• The shares traded at GBX 7,335 in Monday midday trading, within a 12-month range of GBX 5,950 to GBX 8,050.

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) insider Nimesh Patel purchased 2 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average cost of GBX 7,470 per share, for a total transaction of £149.40.

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

• On Monday, September 7th, Nimesh Patel acquired 2 shares of Spirax-Sarco Engineering stock. The shares were bought at an average price of GBX 6,897 per share, for a total transaction of £137.94.

Spirax-Sarco Engineering Price Performance

LON SPX traded up GBX 33.69 during midday trading on Monday, hitting GBX 7,335. The company had a trading volume of 355,220 shares, compared to its average volume of 2,346,777. The company has a market capitalization of £5.41 billion, a PE ratio of 27.33, a P/E/G ratio of 2.20 and a beta of 1.14. The company has a current ratio of 2.14, a quick ratio of 1.73 and a debt-to-equity ratio of 86.79. The firm has a 50-day moving average price of GBX 7,179.52 and a 200-day moving average price of GBX 7,131.20. Spirax-Sarco Engineering plc has a twelve month low of GBX 5,950 and a twelve month high of GBX 8,050.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported GBX 150 earnings per share for the quarter. Spirax-Sarco Engineering had a return on equity of 16.03% and a net margin of 11.36%. As a group, analysts anticipate that Spirax-Sarco Engineering plc will post 334.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 7,500 price objective on shares of Spirax-Sarco Engineering in a research report on Thursday, October 1st. Berenberg Bank restated a "hold" rating and issued a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, August 12th. Jefferies Financial Group restated a "buy" rating and issued a GBX 8,740 target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Spirax-Sarco Engineering from GBX 7,800 to GBX 8,600 and gave the company a "neutral" rating in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of GBX 8,155.

About Spirax-Sarco Engineering

Spirax Group is positioned to play a critical role in enabling the industrial transition to net zero, aligned to our Purpose to create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world. We put solving customers' problems at the heart of our total solutions approach. Our global thermal energy and fluid technology solutions improve operating efficiency and safety in our customers' critical industrial processes. Our new-to-world decarbonisation* solutions will use our proprietary technologies to electrify boilers for the raising of steam, as well as the electrification of other critical industrial process heating applications.

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