Spirax-Sarco Engineering (LON:SPX) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Spirax-Sarco Engineering plc (LON:SPX)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 7,103.05 and traded as low as GBX 6,950. Spirax-Sarco Engineering shares last traded at GBX 6,950, with a volume of 142,573 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SPX shares. Royal Bank Of Canada lifted their price target on shares of Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the company an “underperform” rating in a report on Wednesday, March 11th. Shore Capital Group reaffirmed a “hold” rating on shares of Spirax-Sarco Engineering in a report on Tuesday, March 10th. UBS Group reaffirmed a “buy” rating and set a £105 price target on shares of Spirax-Sarco Engineering in a report on Monday, May 11th. Stifel Nicolaus boosted their target price on shares of Spirax-Sarco Engineering from GBX 6,450 to GBX 7,250 and gave the stock a “hold” rating in a report on Wednesday, March 11th. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a report on Wednesday, March 11th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 8,012.50.

Spirax-Sarco Engineering Price Performance

The firm’s fifty day moving average price is GBX 7,064.60 and its 200 day moving average price is GBX 7,103.05. The company has a quick ratio of 1.73, a current ratio of 1.85 and a debt-to-equity ratio of 83.78. The stock has a market cap of £5.21 billion, a PE ratio of 31.92, a P/E/G ratio of 2.20 and a beta of 1.15.

Spirax-Sarco Engineering (LON:SPX) last released its earnings results on Tuesday, March 10th. The company reported GBX 296.30 EPS for the quarter. Spirax-Sarco Engineering had a net margin of 9.60% and a return on equity of 13.86%. As a group, equities analysts expect that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current fiscal year.

Insider Buying and Selling at Spirax-Sarco Engineering

In related news, insider Nimesh Patel bought 1,423 shares of the stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of GBX 7,370 per share, with a total value of £104,875.10. Also, insider Louisa Burdet sold 671 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of GBX 6,655, for a total transaction of £44,655.05. 0.61% of the stock is currently owned by insiders.

About Spirax-Sarco Engineering

Spirax Group is positioned to play a critical role in enabling the industrial transition to net zero, aligned to our Purpose to create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world. We put solving customers’ problems at the heart of our total solutions approach. Our global thermal energy and fluid technology solutions improve operating efficiency and safety in our customers’ critical industrial processes. Our new-to-world decarbonisation* solutions will use our proprietary technologies to electrify boilers for the raising of steam, as well as the electrification of other critical industrial process heating applications.