Shore Capital Group Reiterates "Hold" Rating for Spirax-Sarco Engineering (LON:SPX)

Key Points

• Shore Capital Group reaffirmed a Hold on Spirax‑Sarco Engineering (LON:SPX); analysts are split (three Buy, three Hold) with a consensus rating of Moderate Buy and an average price target of GBX 8,540.
• Shares traded at GBX 7,325 midday (market cap £5.41bn) and have a 12‑month range of GBX 5,380–8,050, with a P/E of 33.28 and 50‑/200‑day moving averages near GBX 7,363/7,091.
• Insider Nimesh Patel purchased 1,423 shares at GBX 7,370 on March 10, 2024, and the company officially rebranded to Spirax Group on February 22, 2024.

Spirax-Sarco Engineering (LON:SPX - Get Free Report)'s stock had its "hold" rating reaffirmed by research analysts at Shore Capital Group in a research note issued on Tuesday, Marketbeat reports.

Several other analysts have also recently issued reports on SPX. Deutsche Bank Aktiengesellschaft increased their target price on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the stock a "hold" rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. upped their price target on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the stock a "neutral" rating in a research note on Thursday, December 4th. Finally, Peel Hunt reaffirmed a "buy" rating and set a GBX 8,500 price objective on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 8,540.

Spirax-Sarco Engineering Price Performance

Shares of LON SPX traded up GBX 270 during midday trading on Tuesday, reaching GBX 7,325. The stock had a trading volume of 529,636 shares, compared to its average volume of 1,274,936. The company has a market capitalization of £5.41 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. Spirax-Sarco Engineering has a 12-month low of GBX 5,380 and a 12-month high of GBX 8,050. The stock 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 debt-to-equity ratio of 92.52, a quick ratio of 1.73 and a current ratio of 1.77.

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

Insiders Place Their Bets

In related news, insider Nimesh Patel bought 1,423 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of GBX 7,370 per share, with a total value of £104,875.10. Insiders purchased 1,427 shares of company stock worth $10,515,980 over the last quarter. Insiders own 0.61% of the company's stock.

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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