Spirax-Sarco Engineering (LON:SPX) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Spirax-Sarco Engineering's shares recently surpassed their 200-day moving average, trading as high as GBX 7,050 ($94.15), while currently priced at GBX 6,885 ($91.95).
• Analysts rate Spirax-Sarco Engineering with an average rating of "Moderate Buy" and a consensus target price of GBX 7,900, with Citigroup recently increasing its price objective from GBX 8,000 to GBX 8,400.
• Spirax-Sarco Engineering is set to undergo a rebranding to Spirax Group on February 22, 2024, reflecting its evolution into a larger organization with multiple aligned businesses.

Spirax-Sarco Engineering plc (LON:SPX - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 6,329.33 ($84.53) and traded as high as GBX 7,050 ($94.15). Spirax-Sarco Engineering shares last traded at GBX 6,885 ($91.95), with a volume of 82,448 shares changing hands.

Wall Street Analysts Forecast Growth

SPX has been the topic of several recent research reports. Shore Capital restated an "under review" rating on shares of Spirax-Sarco Engineering in a research report on Tuesday, August 12th. JPMorgan Chase & Co. restated a "neutral" rating and issued a GBX 7,400 price objective on shares of Spirax-Sarco Engineering in a research report on Wednesday, July 2nd. Finally, Citigroup upped their price objective on Spirax-Sarco Engineering from GBX 8,000 to GBX 8,400 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Spirax-Sarco Engineering has an average rating of "Moderate Buy" and a consensus target price of GBX 7,900.

Spirax-Sarco Engineering Trading Down 1.2%

The company has a 50 day moving average of GBX 6,963.33 and a 200 day moving average of GBX 6,329.33. The company has a debt-to-equity ratio of 98.85, a quick ratio of 1.73 and a current ratio of 2.25. The stock has a market capitalization of £5.07 billion, a price-to-earnings ratio of 3,128.12, a P/E/G ratio of 2.20 and a beta of 0.68.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts predict that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current fiscal 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.

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