Bank of America Reiterates Buy Rating for Spirax-Sarco Engineering (LON:SPX)

Spirax-Sarco Engineering (LON:SPX)‘s stock had its “buy” rating reissued by equities research analysts at Bank of America in a report issued on Thursday, Digital Look reports.

A number of other equities research analysts also recently weighed in on SPX. Barclays cut their price target on Spirax-Sarco Engineering from £105.80 ($133.91) to GBX 9,960 ($126.06) and set an “equal weight” rating for the company in a research note on Tuesday. Shore Capital reaffirmed a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Monday, December 18th. Berenberg Bank raised their price target on Spirax-Sarco Engineering from GBX 8,800 ($111.38) to GBX 9,800 ($124.03) and gave the stock a “hold” rating in a research note on Friday, March 8th. Jefferies Financial Group raised Spirax-Sarco Engineering to a “hold” rating and set a GBX 9,740 ($123.28) price target for the company in a research note on Wednesday, January 31st. Finally, Numis Securities reissued a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of £101.50 ($128.46).

Spirax-Sarco Engineering Stock Up 0.5 %

SPX opened at GBX 9,735.96 ($123.22) on Thursday. Spirax-Sarco Engineering has a fifty-two week low of GBX 7,900 ($99.99) and a fifty-two week high of £118.45 ($149.92). The business has a 50-day moving average of £102.19 and a 200-day moving average of GBX 9,634.35. The company has a debt-to-equity ratio of 97.01, a current ratio of 2.26 and a quick ratio of 1.73. The company has a market capitalization of £7.18 billion, a PE ratio of 3,925.79, a price-to-earnings-growth ratio of 6.92 and a beta of 0.71.

Insider Buying and Selling at Spirax-Sarco Engineering

In other Spirax-Sarco Engineering news, insider Nimesh Patel sold 660 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of £105.27 ($133.24), for a total value of £69,478.20 ($87,935.96). Insiders own 0.94% of the company’s stock.

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions for the users of industrial and commercial steam systems, electrical heating and temperature management systems, and pumps and fluid path technologies. 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 pumps, tubing, and specialty filling systems and products for single-use applications.