Spirax-Sarco Engineering (LON:SPX) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Spirax-Sarco Engineering plc (LON:SPX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 7,111.99 and traded as low as GBX 6,500. Spirax-Sarco Engineering shares last traded at GBX 6,510, with a volume of 169,431 shares.

Wall Street Analysts Forecast Growth

SPX has been the topic of several recent research reports. Berenberg Bank reissued a “hold” rating and issued a GBX 7,350 price target on shares of Spirax-Sarco Engineering in a research note on Wednesday, March 11th. Stifel Nicolaus increased their price objective on 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. Shore Capital Group reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research report on Tuesday, March 10th. Royal Bank Of Canada boosted their target price on Spirax-Sarco Engineering from GBX 6,000 to GBX 6,800 and gave the company an “underperform” rating in a research note on Wednesday, March 11th. Finally, UBS Group reaffirmed a “buy” rating and set a £105 price target on shares of Spirax-Sarco Engineering in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of GBX 8,012.50.

Spirax-Sarco Engineering Trading Down 1.6%

The company has a debt-to-equity ratio of 83.78, a current ratio of 1.85 and a quick ratio of 1.73. The business has a 50-day moving average of GBX 6,975.36 and a 200-day moving average of GBX 7,111.99. The firm has a market cap of £4.73 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 2.20 and a beta of 1.15.

Spirax-Sarco Engineering Company Profile

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.