Brokerages Set Spirax-Sarco Engineering plc (LON:SPX) Target Price at £101.50

Shares of Spirax-Sarco Engineering plc (LON:SPX) have received an average rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is £101.50 ($127.51).

A number of analysts have recently issued reports on SPX shares. Berenberg Bank lifted their price objective on shares of Spirax-Sarco Engineering from GBX 8,800 ($110.55) to GBX 9,800 ($123.12) and gave the company a “hold” rating in a report on Friday, March 8th. Jefferies Financial Group upgraded shares of Spirax-Sarco Engineering to a “hold” rating and set a GBX 9,740 ($122.36) price objective on the stock in a research note on Wednesday, January 31st. Barclays cut their target price on shares of Spirax-Sarco Engineering from £105.80 ($132.91) to GBX 9,960 ($125.13) and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. Bank of America restated a “buy” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, April 11th. Finally, Numis Securities reiterated a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, March 7th.

Insider Buying and Selling at Spirax-Sarco Engineering

In other news, insider Nimesh Patel sold 660 shares of Spirax-Sarco Engineering stock in a transaction on Monday, March 18th. The stock was sold at an average price of £105.27 ($132.25), for a total transaction of £69,478.20 ($87,284.17). Insiders own 0.94% of the company’s stock.

Spirax-Sarco Engineering Trading Up 1.2 %

LON SPX opened at GBX 9,131.94 ($114.72) on Friday. The company has a debt-to-equity ratio of 97.01, a current ratio of 2.26 and a quick ratio of 1.73. Spirax-Sarco Engineering has a one year low of GBX 7,900 ($99.25) and a one year high of £114.80 ($144.22). The stock’s 50-day moving average is GBX 9,792.14 and its 200-day moving average is GBX 9,657.41. The firm has a market cap of £6.72 billion, a P/E ratio of 3,667.45, a P/E/G ratio of 6.13 and a beta of 0.69.

Spirax-Sarco Engineering Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a dividend of GBX 114 ($1.43) per share. This is a boost from Spirax-Sarco Engineering’s previous dividend of $46.00. This represents a yield of 1.11%. The ex-dividend date is Thursday, April 25th. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is presently 6,425.70%.

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.