Spirax-Sarco Engineering (LON:SPX) PT Lowered to GBX 6,900

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Spirax-Sarco Engineering (LON:SPX) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from GBX 7,700 ($101.29) to GBX 6,900 ($90.77) in a research report issued on Wednesday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 17.76% from the company’s current price.

Several other brokerages also recently issued reports on SPX. Jefferies Financial Group raised their price target on Spirax-Sarco Engineering from GBX 7,855 ($103.33) to GBX 8,710 ($114.58) and gave the stock a “hold” rating in a report on Friday, February 14th. Goldman Sachs Group cut their price target on Spirax-Sarco Engineering from GBX 7,400 ($97.34) to GBX 7,200 ($94.71) and set a “sell” rating on the stock in a report on Friday, March 20th. UBS Group reissued a “neutral” rating and issued a GBX 8,900 ($117.07) price target (down previously from GBX 9,200 ($121.02)) on shares of Spirax-Sarco Engineering in a report on Thursday, March 19th. BNP Paribas raised their price target on Spirax-Sarco Engineering from GBX 5,700 ($74.98) to GBX 7,250 ($95.37) and gave the stock an “underperform” rating in a report on Thursday, November 28th. Finally, Peel Hunt reissued an “add” rating on shares of Spirax-Sarco Engineering in a report on Wednesday, March 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of GBX 8,466.67 ($111.37).

Shares of SPX opened at GBX 8,390 ($110.37) on Wednesday. The firm has a market cap of $6.20 billion and a price-to-earnings ratio of 28.02. The stock has a 50 day moving average of GBX 8,780.10 and a 200-day moving average of GBX 8,523.52. 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 6,950 ($91.42) and a 52 week high of GBX 9,535 ($125.43).

In related news, insider Jamie Pike purchased 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average price of GBX 7,690 ($101.16) per share, with a total value of £99,970 ($131,504.87).

Spirax-Sarco Engineering Company Profile

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.

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

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