Stifel Nicolaus Forecasts Strong Price Appreciation for Spirax-Sarco Engineering (LON:SPX) Stock

Spirax-Sarco Engineering (LON:SPX) had its target price boosted by analysts at Stifel Nicolaus from GBX 6,450 to GBX 7,250 in a research report issued on Wednesday,London Stock Exchange reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 1.83% from the stock’s current price.

Other analysts also recently issued reports about the company. Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective 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. Peel Hunt reaffirmed a “buy” rating and issued a GBX 8,500 price target on shares of Spirax-Sarco Engineering in a report on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft raised 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 research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of GBX 8,012.50.

Spirax-Sarco Engineering Stock Down 2.6%

SPX traded down GBX 190 on Wednesday, hitting GBX 7,120. 408,236 shares of the company were exchanged, compared to its average volume of 1,258,053. The stock’s fifty day moving average is GBX 7,372.30 and its 200-day moving average is GBX 7,091.39. Spirax-Sarco Engineering has a 12 month low of GBX 5,380 and a 12 month high of GBX 8,050. The company has a debt-to-equity ratio of 92.52, a quick ratio of 1.73 and a current ratio of 1.77. The company has a market cap of £5.26 billion, a PE ratio of 32.35, a PEG ratio of 2.20 and a beta of 1.13.

Spirax-Sarco Engineering (LON:SPX) last posted its quarterly earnings data on Tuesday, March 10th. The company reported GBX 296.30 earnings per share for the quarter. Spirax-Sarco Engineering had a return on equity of 13.88% and a net margin of 9.80%. Equities research analysts predict that Spirax-Sarco Engineering will post 334.5410628 EPS for the current fiscal year.

Insiders Place Their Bets

In other Spirax-Sarco Engineering news, insider Nimesh Patel bought 1,423 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of GBX 7,370 per share, for a total transaction of £104,875.10. Over the last 90 days, insiders have bought 1,427 shares of company stock valued at $10,515,980. 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.