Spirax-Sarco Engineering (LON:SPX) Price Target Raised to GBX 7,250 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target on Spirax‑Sarco from GBX 6,450 to GBX 7,250 while keeping a "hold" rating, a level that implies roughly a 1.83% upside from the recent share price.
• Analyst consensus remains a "Hold" (3 Buy, 5 Hold, 1 Sell) with an average price target of GBX 8,012.50; the stock recently traded at GBX 7,120 and has a market cap of about £5.26 billion and a P/E of 32.35.
• The company rebranded to Spirax Group on Feb 22, 2024, and insiders have been buying shares (Nimesh Patel acquired 1,423 shares at GBX 7,370); latest quarterly EPS was GBX 296.30 and analysts forecast ~GBX 334.54 for the year.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) had its price objective raised by Stifel Nicolaus from GBX 6,450 to GBX 7,250 in a research report issued on Wednesday,London Stock Exchange reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 1.83% from the company's current price.

SPX has been the subject of several other reports. JPMorgan Chase & Co. increased their target price on shares of Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a "neutral" rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a "hold" rating in a research report on Thursday, November 13th. Peel Hunt restated a "buy" rating and issued a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. Finally, Shore Capital Group reaffirmed a "hold" rating on shares of Spirax-Sarco Engineering in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of GBX 8,012.50.

Spirax-Sarco Engineering Stock Performance

LON SPX traded down GBX 190 during trading hours on Wednesday, hitting GBX 7,120. 408,236 shares of the stock were exchanged, compared to its average volume of 1,258,053. The company has a market cap of £5.26 billion, a price-to-earnings ratio of 32.35, 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 7,372.30 and a 200 day moving average of GBX 7,091.39. The company has a quick ratio of 1.73, a current ratio of 1.77 and a debt-to-equity ratio of 92.52.

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

Insider Buying and Selling at Spirax-Sarco Engineering

In other Spirax-Sarco Engineering news, insider Nimesh Patel acquired 1,423 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of GBX 7,370 per share, with a total value of £104,875.10. Over the last three months, insiders bought 1,427 shares of company stock worth $10,515,980. 0.61% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.