Insider Buying: Spirax-Sarco Engineering (LON:SPX) Insider Acquires 1,423 Shares of Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Nimesh Patel bought 1,423 shares of the stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of GBX 7,370 per share, for a total transaction of £104,875.10.

Nimesh Patel also recently made the following trade(s):

• On Thursday, February 5th, Nimesh Patel acquired 2 shares of Spirax-Sarco Engineering stock. The stock was acquired at an average cost of GBX 7,375 per share, for a total transaction of £147.50.
• On Monday, January 5th, Nimesh Patel purchased 2 shares of Spirax-Sarco Engineering stock. The stock was bought at an average cost of GBX 6,860 per share, with a total value of £137.20.

Spirax-Sarco Engineering Trading Up 3.8%

SPX stock traded up GBX 270 during midday trading on Tuesday, reaching GBX 7,325. The stock had a trading volume of 529,636 shares, compared to its average volume of 1,274,936. The business has a fifty day simple moving average of GBX 7,363 and a two-hundred day simple moving average of GBX 7,091.50. Spirax-Sarco Engineering plc has a twelve month low of GBX 5,380 and a twelve month high of GBX 8,050. The firm has a market cap of £5.41 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.20 and a beta of 1.13. The company has a quick ratio of 1.73, a current ratio of 1.77 and a debt-to-equity ratio of 92.52.

Spirax-Sarco Engineering (LON:SPX) last issued 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, research analysts expect that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current fiscal year.

Analyst Ratings Changes

SPX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spirax-Sarco Engineering from GBX 7,250 to GBX 7,500 and gave the stock a “hold” rating in a research note on Thursday, November 13th. Peel Hunt reaffirmed a “buy” rating and set a GBX 8,500 target price on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Spirax-Sarco Engineering from GBX 7,500 to GBX 7,800 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 8,540.

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. It creates more distinction between the Group and its Spirax Sarco trading Division (part of Steam Thermal Solutions), providing improved clarity for all stakeholders.