Goldman Sachs Group Trims Spirax-Sarco Engineering (LON:SPX) Target Price to GBX 7,200

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Spirax-Sarco Engineering (LON:SPX) had its price target reduced by Goldman Sachs Group from GBX 7,500 ($98.00) to GBX 7,200 ($94.08) in a report published on Monday, ThisIsMoney.Co.Uk reports. They currently have a sell rating on the stock.

SPX has been the topic of a number of other research reports. Peel Hunt reiterated a hold rating on shares of Spirax-Sarco Engineering in a report on Wednesday, August 7th. Deutsche Bank lifted their price target on shares of Spirax-Sarco Engineering from GBX 6,570 ($85.85) to GBX 8,540 ($111.59) and gave the stock a hold rating in a report on Friday, June 14th. Jefferies Financial Group reiterated a hold rating on shares of Spirax-Sarco Engineering in a report on Wednesday, July 24th. Morgan Stanley reiterated an equal weight rating on shares of Spirax-Sarco Engineering in a report on Thursday, July 11th. Finally, UBS Group reiterated a neutral rating on shares of Spirax-Sarco Engineering in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Spirax-Sarco Engineering currently has an average rating of Hold and a consensus price target of GBX 7,368 ($96.28).

Shares of LON:SPX opened at GBX 7,780 ($101.66) on Monday. The firm has a market capitalization of $5.75 billion and a price-to-earnings ratio of 25.99. The business’s fifty day simple moving average is GBX 8,762.80. The company has a current ratio of 2.20, a quick ratio of 1.43 and a debt-to-equity ratio of 77.00. Spirax-Sarco Engineering has a 52 week low of GBX 5,875 ($76.77) and a 52 week high of GBX 9,440 ($123.35).

Spirax-Sarco Engineering (LON:SPX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported GBX 120 ($1.57) EPS for the quarter, missing analysts’ consensus estimates of GBX 125.20 ($1.64) by GBX (5.20) (($0.07)). Research analysts anticipate that Spirax-Sarco Engineering will post 26635.0006104 earnings per share for the current fiscal year.

The company also recently announced a dividend, which will be paid on Friday, November 8th. Investors of record on Thursday, October 10th will be issued a GBX 32 ($0.42) dividend. The ex-dividend date is Thursday, October 10th. This represents a yield of 0.4%. Spirax-Sarco Engineering’s payout ratio is 0.34%.

In other news, insider Jamie Pike bought 1,250 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of GBX 8,090 ($105.71) per share, for a total transaction of £101,125 ($132,137.72).

About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc provides engineered solutions for users of industrial and commercial steam systems, electrical heating and temperature management systems, and process fluid paths and pumping 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 thermal energy management products comprising metering products, boiler house products, heat transfer packages, and energy services.

Read More: What is a good dividend yield?

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

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