Spirax-Sarco Engineering (LON:SPX) Sets New 52-Week Low – Here’s Why

Spirax-Sarco Engineering plc (LON:SPX)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 6,375 ($82.04) and last traded at GBX 6,405 ($82.42), with a volume of 353411 shares trading hands. The stock had previously closed at GBX 6,530 ($84.03).

Analyst Ratings Changes

A number of research analysts recently issued reports on SPX shares. Shore Capital reiterated a “sell” rating on shares of Spirax-Sarco Engineering in a report on Friday, August 30th. Royal Bank of Canada cut their target price on Spirax-Sarco Engineering from GBX 8,000 ($102.95) to GBX 7,000 ($90.08) and set an “underperform” rating on the stock in a research report on Thursday, August 15th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 8,150 ($104.88) target price on shares of Spirax-Sarco Engineering in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 8,672.50 ($111.60).

Spirax-Sarco Engineering Trading Down 2.0 %

The firm has a market capitalization of £4.71 billion, a price-to-earnings ratio of 2,511.54, a P/E/G ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 98.81, a quick ratio of 1.73 and a current ratio of 2.26. The business has a fifty day moving average price of GBX 7,043.88 and a 200 day moving average price of GBX 8,065.17.

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.