Brokerages Set Spirax-Sarco Engineering plc (LON:SPX) Price Target at GBX 8,672.50

Spirax-Sarco Engineering plc (LON:SPX) has been given a consensus recommendation of “Reduce” by the seven research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is GBX 8,672.50 ($109.02).

Several equities research analysts have recently commented on SPX shares. Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Friday, August 30th. Royal Bank of Canada reduced their price target on Spirax-Sarco Engineering from GBX 8,000 ($100.57) to GBX 7,000 ($87.99) and set an “underperform” rating for the company in a research report on Thursday, August 15th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 8,150 ($102.45) price objective on shares of Spirax-Sarco Engineering in a research note on Wednesday, September 25th.

Spirax-Sarco Engineering Stock Up 0.2 %

Shares of SPX stock opened at GBX 6,845 ($86.05) on Wednesday. The company has a 50 day simple moving average of GBX 6,897.56 and a two-hundred day simple moving average of GBX 7,923.88. The stock has a market cap of £5.04 billion, a P/E ratio of 2,625.42, a P/E/G ratio of 2.20 and a beta of 0.68. Spirax-Sarco Engineering has a 12 month low of GBX 6,350 ($79.82) and a 12 month high of £112.80 ($141.80). The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 98.81.

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.