Spirax-Sarco Engineering (LON:SPX) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Shares of Spirax-Sarco Engineering recently crossed above their 200-day moving average, indicating potential upward momentum, with a current trading price of GBX 7,200 ($97.19).
• Analysts have mixed views, with Citigroup raising their target price to GBX 8,400, while JPMorgan maintains a neutral rating with a target price of GBX 7,400.
• The company reported a quarterly earnings per share (EPS) of GBX 137.60 and forecasts an EPS of approximately 334.54 for the current fiscal year.

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 6,384.51 ($86.22) and traded as high as GBX 7,315 ($98.78). Spirax-Sarco Engineering shares last traded at GBX 7,200 ($97.23), with a volume of 175,166 shares traded.

Analysts Set New Price Targets

SPX has been the subject of several recent research reports. JPMorgan Chase & Co. reissued 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. Citigroup increased their price objective on Spirax-Sarco Engineering from GBX 8,000 to GBX 8,400 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Finally, Shore Capital reissued an "under review" rating on shares of Spirax-Sarco Engineering in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Spirax-Sarco Engineering presently has an average rating of "Hold" and a consensus price target of GBX 7,983.33.

Spirax-Sarco Engineering Stock Down 1.0%

The firm's 50 day moving average price is GBX 6,416.17 and its two-hundred day moving average price is GBX 6,357.42. 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 firm has a market capitalization of £5.32 billion, a PE ratio of 2,788.72, a P/E/G ratio of 2.20 and a beta of 0.68.

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

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.