Spirax-Sarco Engineering (LON:SPX) Shares Cross Below Fifty Day Moving Average of $8,845.50

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Spirax-Sarco Engineering plc (LON:SPX) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8,845.50 and traded as low as $8,700.00. Spirax-Sarco Engineering shares last traded at $8,780.00, with a volume of 230,390 shares traded.

Several research analysts have commented on SPX shares. Deutsche Bank dropped their price target on Broadcom from $330.00 to $315.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Morgan Stanley lifted their price target on Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Goldman Sachs Group downgraded EXPERIAN PLC/ADR from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 10th. Berenberg Bank set a €54.00 ($62.79) price target on 1&1 Drillisch and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, UBS Group raised to a “neutral” rating and lifted their price target for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 7,240 ($94.60).

The stock has a market cap of $6.48 billion and a price-to-earnings ratio of 29.07. The company has a quick ratio of 1.80, a current ratio of 2.49 and a debt-to-equity ratio of 55.14. The firm’s 50-day moving average is GBX 8,853.60.

Spirax-Sarco Engineering Company Profile (LON:SPX)

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.

Further Reading: Cost of equity and a company’s balance sheet

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