Spirax-Sarco Engineering (LON:SPX) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Spirax-Sarco Engineering shares crossed above their 200-day moving average, reaching GBX 7,105 before last trading at GBX 6,910 on volume of 151,890 shares.
• Analyst sentiment remains mixed, with three Buy, five Hold and one Sell rating; the average price target is GBX 8,155, implying potential upside from the latest price.
• 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 passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 7,083.68 and traded as high as GBX 7,105. Spirax-Sarco Engineering shares last traded at GBX 6,910, with a volume of 151,890 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPX. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 7,500 target price on shares of Spirax-Sarco Engineering in a report on Wednesday, August 12th. Berenberg Bank restated a "hold" rating and set a GBX 7,350 price objective on shares of Spirax-Sarco Engineering in a report on Wednesday, August 12th. Jefferies Financial Group restated a "buy" rating and issued a GBX 8,740 price target on shares of Spirax-Sarco Engineering in a report on Wednesday, August 12th. UBS Group reissued a "buy" rating and issued a £105 price objective on shares of Spirax-Sarco Engineering in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Spirax-Sarco Engineering from GBX 7,800 to GBX 8,600 and gave the stock a "neutral" rating in a research report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of GBX 8,155.

Spirax-Sarco Engineering Price Performance

The stock has a market capitalization of £5.10 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 2.20 and a beta of 1.14. The business's 50 day simple moving average is GBX 6,961.82 and its 200-day simple moving average is GBX 7,083.68. The company has a debt-to-equity ratio of 86.79, a quick ratio of 1.73 and a current ratio of 2.14.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last posted its earnings results 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%. Research analysts anticipate that Spirax-Sarco Engineering plc will post 334.5410628 earnings per share for the current 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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