Spirax-Sarco Engineering plc (SPX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Spirax-Sarco Engineering plc (LON:SPX) have been given an average rating of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is GBX 6,676.67 ($87.24).

Several brokerages recently commented on SPX. UBS Group reaffirmed a “neutral” rating and issued a GBX 7,100 ($92.77) price objective (up previously from GBX 6,350 ($82.97)) on shares of Spirax-Sarco Engineering in a report on Thursday, October 4th. Barclays lifted their price objective on Spirax-Sarco Engineering from GBX 6,360 ($83.10) to GBX 6,600 ($86.24) and gave the stock an “equal weight” rating in a report on Thursday, August 9th. Goldman Sachs Group lifted their price objective on Spirax-Sarco Engineering from GBX 6,250 ($81.67) to GBX 6,550 ($85.59) and gave the stock a “neutral” rating in a report on Thursday, August 9th. Royal Bank of Canada lifted their price objective on Spirax-Sarco Engineering from GBX 6,500 ($84.93) to GBX 7,400 ($96.69) and gave the stock an “outperform” rating in a report on Thursday, August 9th. Finally, Peel Hunt reaffirmed an “add” rating on shares of Spirax-Sarco Engineering in a report on Wednesday, August 8th.

In related news, insider Jamie Pike purchased 2,856 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was acquired at an average price of GBX 7,002 ($91.49) per share, with a total value of £199,977.12 ($261,305.53).



Shares of SPX stock traded up GBX 25 ($0.33) during mid-day trading on Monday, hitting GBX 6,355 ($83.04). The company’s stock had a trading volume of 150,498 shares, compared to its average volume of 143,754. Spirax-Sarco Engineering has a 52-week low of GBX 4,681 ($61.17) and a 52-week high of GBX 6,155 ($80.43).

Spirax-Sarco Engineering (LON:SPX) last posted its quarterly earnings results on Wednesday, August 8th. The company reported GBX 119.20 ($1.56) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of GBX 113.40 ($1.48) by GBX 5.80 ($0.08). Spirax-Sarco Engineering had a return on equity of 22.62% and a net margin of 14.21%.

The business also recently declared a dividend, which will be paid on Friday, November 9th. Shareholders of record on Thursday, October 11th will be issued a dividend of GBX 29 ($0.38) per share. This represents a yield of 0.43%. The ex-dividend date of this dividend is Thursday, October 11th.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering plc provides engineered solutions for the design, maintenance, and provision of industrial and commercial steam systems. It offers condensate management products, such as steam traps, condensate return pumps, and isolation valves; controls, including automatic control valves, pressure regulators, and temperature controls; and energy management products comprising metering products, boiler house products, heat transfer packages, and energy services.

Read More: What are trading strategies for the 52-week high/low?

Analyst Recommendations for Spirax-Sarco Engineering (LON:SPX)

Receive News & Ratings for Spirax-Sarco Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirax-Sarco Engineering and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply