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

Key Points

• Spirax-Sarco Engineering shares have recently surpassed their 200-day moving average, reaching a price of GBX 7,025 during trading on Tuesday, reflecting strong market performance.
• Analysts have mixed opinions on the stock, with Citigroup raising its price target to GBX 8,400 and issuing a "buy" rating, while others maintain a "hold" rating with a consensus target price of GBX 7,983.33.
• The company reported an earnings per share (EPS) of GBX 137.60 in its latest quarterly results, indicating a positive financial position with a net margin of 11.57%.

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 6,323.40 ($85.20) and traded as high as GBX 7,025 ($94.65). Spirax-Sarco Engineering shares last traded at GBX 6,896.87 ($92.92), with a volume of 185,091 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Shore Capital reissued an "under review" rating on shares of Spirax-Sarco Engineering in a report on Tuesday, August 12th. JPMorgan Chase & Co. restated a "neutral" rating and set a GBX 7,400 price target on shares of Spirax-Sarco Engineering in a research report on Wednesday, July 2nd. Finally, Citigroup boosted their target price on shares of Spirax-Sarco Engineering from GBX 8,000 to GBX 8,400 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of GBX 7,983.33.

Spirax-Sarco Engineering Price Performance

The company has a quick ratio of 1.73, a current ratio of 2.25 and a debt-to-equity ratio of 98.85. The stock has a market capitalization of £5.17 billion, a PE ratio of 3,184.92, a P/E/G ratio of 2.20 and a beta of 0.68. The stock's 50-day moving average is GBX 6,716.34 and its 200 day moving average is GBX 6,320.13.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported GBX 137.60 earnings per share (EPS) for the quarter. Spirax-Sarco Engineering had a net margin of 11.57% and a return on equity of 16.58%. As a group, equities analysts predict that Spirax-Sarco Engineering plc will post 334.5410628 earnings per share for the current year.

Spirax-Sarco Engineering Company Profile

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.