Spirax-Sarco Engineering (LON:SPX) Stock Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• Spirax-Sarco Engineering shares broke above their 200-day moving average, reaching GBX 7,330 before last trading at GBX 7,275 on volume of 112,253 shares.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy, five a Hold and one a Sell. The consensus rating is Hold, with an average price target of GBX 8,155.
• The company reported quarterly EPS of GBX 150, alongside a 16.03% return on equity and an 11.36% net margin; analysts expect full-year EPS of approximately GBX 334.54.

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 7,025.62 and traded as high as GBX 7,330. Spirax-Sarco Engineering shares last traded at GBX 7,275, with a volume of 112,253 shares traded.

Analysts Set New Price Targets

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

Spirax-Sarco Engineering Stock Performance

The firm has a market cap of £5.37 billion, a P/E ratio of 27.11, a PEG 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 company's 50-day moving average is GBX 7,103.40 and its two-hundred day moving average is GBX 7,025.62.

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

Spirax-Sarco Engineering Company Profile

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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