Spirax-Sarco Engineering (LON:SPX) Earns Hold Rating from Berenberg Bank

Spirax-Sarco Engineering (LON:SPX)‘s stock had its “hold” rating restated by equities research analysts at Berenberg Bank in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a GBX 8,150 ($109.13) target price on the stock. Berenberg Bank’s price objective indicates a potential upside of 8.81% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Shore Capital reaffirmed a “sell” rating on shares of Spirax-Sarco Engineering in a report on Friday, August 30th. Royal Bank of Canada cut their price target on Spirax-Sarco Engineering from GBX 8,000 ($107.12) to GBX 7,000 ($93.73) and set an “underperform” rating for the company in a report on Thursday, August 15th. Finally, Jefferies Financial Group cut their target price on shares of Spirax-Sarco Engineering from GBX 9,690 ($129.75) to GBX 9,580 ($128.28) and set a “hold” rating for the company in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of GBX 9,158 ($122.63).

Spirax-Sarco Engineering Stock Performance

LON SPX opened at GBX 7,490 ($100.29) on Wednesday. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 98.81. Spirax-Sarco Engineering has a 12-month low of GBX 7,075 ($94.74) and a 12-month high of £112.80 ($151.04). The stock has a market capitalization of £5.52 billion, a price-to-earnings ratio of 2,880.77, a PEG ratio of 2.30 and a beta of 0.68. The business’s 50 day moving average is GBX 7,871.45 and its two-hundred day moving average is GBX 8,793.85.

Insider Buying and Selling

In related news, insider Kevin J. Thompson purchased 640 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of GBX 7,655 ($102.50) per share, for a total transaction of £48,992 ($65,602.57). 0.73% of the stock is currently owned by company insiders.

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions it operates through three segments: Steam Thermal Solutions; Electric Thermal Solutions; and Watson-Marlow Fluid Technology Solutions. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including tubing, and specialty filling systems and products for single-use applications.