Spirax-Sarco Engineering (LON:SPX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its target price to GBX 6,800 from GBX 6,000 but retained an underperform rating, implying roughly a 4.49% downside to the stock.
• Analyst coverage is mixed—3 Buy, 5 Hold, 1 Sell—with an average consensus rating of Hold and an average target price of GBX 8,012.50.
• SPX traded down 2.6% to GBX 7,120 (market cap £5.26bn, P/E 32.35); insiders recently bought shares (1,423 at GBX 7,370) and the company rebranded to Spirax Group in February 2024.

Spirax-Sarco Engineering (LON:SPX - Get Free Report) had its target price increased by stock analysts at Royal Bank Of Canada from GBX 6,000 to GBX 6,800 in a research report issued to clients and investors on Wednesday,London Stock Exchange reports. The brokerage currently has an "underperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential downside of 4.49% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Peel Hunt restated a "buy" rating and set a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the company a "neutral" rating in a research report on Thursday, December 4th. Stifel Nicolaus upped their price objective 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. Shore Capital Group reaffirmed a "hold" rating on shares of Spirax-Sarco Engineering in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the company a "hold" rating in a report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of GBX 8,012.50.

Spirax-Sarco Engineering Trading Down 2.6%

SPX stock traded down GBX 190 during trading on Wednesday, reaching GBX 7,120. The company had a trading volume of 408,236 shares, compared to its average volume of 1,258,053. The company has a debt-to-equity ratio of 92.52, a current ratio of 1.77 and a quick ratio of 1.73. Spirax-Sarco Engineering has a 52 week low of GBX 5,380 and a 52 week high of GBX 8,050. The business 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 market cap of £5.26 billion, a P/E ratio of 32.35, a PEG ratio of 2.20 and a beta of 1.13.

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

Insider Activity

In other Spirax-Sarco Engineering news, insider Nimesh Patel bought 1,423 shares of the firm's stock in a transaction 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. Insiders have purchased a total of 1,427 shares of company stock valued at $10,515,980 in the last 90 days. Corporate insiders own 0.61% of the company's stock.

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.

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