Spirax-Sarco Engineering (LON:SPX) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Price action: Spirax‑Sarco's shares crossed above their 200‑day moving average (GBX 7,082.29), trading as high as GBX 7,532 and last at GBX 7,198 on volume of 321,391 shares.
• Analyst stance: The stock carries a consensus rating of "Hold" with an average price target of GBX 8,012.50, while recent notes include Berenberg and Stifel reiterating holds (targets ~GBX 7,350/7,250) and RBC raising its target to GBX 6,800 but keeping an "underperform" call.
• Fundamentals & insider activity: Market cap is £5.31bn with a P/E of 32.54 and debt/equity of 83.78, and insiders recently traded shares—Nimesh Patel bought 1,423 shares at GBX 7,370 and Louisa Burdet sold 671 shares; insiders own 0.61%.

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 7,082.29 and traded as high as GBX 7,532. Spirax-Sarco Engineering shares last traded at GBX 7,198, with a volume of 321,391 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Berenberg Bank reissued a "hold" rating and set a GBX 7,350 price objective on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 11th. Stifel Nicolaus increased their target price on shares of Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the stock a "hold" rating in a report on Wednesday, March 11th. Shore Capital Group reissued a "hold" rating on shares of Spirax-Sarco Engineering in a report on Tuesday, March 10th. Finally, Royal Bank Of Canada upped their price objective on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the company an "underperform" rating in a research report on Wednesday, March 11th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of GBX 8,012.50.

Spirax-Sarco Engineering Stock Performance

The firm has a market cap of £5.31 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The stock has a 50-day moving average of GBX 7,212.34 and a 200-day moving average of GBX 7,082.29. The company has a debt-to-equity ratio of 83.78, a quick ratio of 1.73 and a current ratio of 1.85.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last released its quarterly earnings results on Tuesday, March 10th. The company reported GBX 296.30 earnings per share for the quarter. Spirax-Sarco Engineering had a return on equity of 13.86% and a net margin of 9.60%. As a group, analysts anticipate that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current fiscal year.

Insiders Place Their Bets

In other Spirax-Sarco Engineering news, insider Nimesh Patel bought 1,423 shares of the firm's 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. Also, insider Louisa Burdet sold 671 shares of Spirax-Sarco Engineering stock in a transaction on Monday, March 16th. The shares were sold at an average price of GBX 6,655, for a total transaction of £44,655.05. 0.61% of the stock is currently owned by company insiders.

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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