Spirax-Sarco Engineering (LON:SPX) Shares Pass Above 200 Day Moving Average – What’s Next?

Spirax-Sarco Engineering plc (LON:SPX)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 7,083.68 and traded as high as GBX 7,105. Spirax-Sarco Engineering shares last traded at GBX 6,910, with a volume of 151,890 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on SPX. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 7,500 price target on shares of Spirax-Sarco Engineering in a report on Wednesday, August 12th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 8,740 price objective on shares of Spirax-Sarco Engineering in a research note on Wednesday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of Spirax-Sarco Engineering from GBX 7,800 to GBX 8,600 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. UBS Group restated a “buy” rating and set a £105 target price on shares of Spirax-Sarco Engineering in a research note on Monday, May 11th. Finally, Berenberg Bank restated a “hold” rating and set a GBX 7,350 target price on shares of Spirax-Sarco Engineering in a research note on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of GBX 8,155.

Spirax-Sarco Engineering Price Performance

The firm’s fifty day simple moving average is GBX 6,961.42 and its 200 day simple moving average is GBX 7,077.42. The firm has a market cap of £5.05 billion, a P/E ratio of 30.92, a P/E/G ratio of 2.20 and a beta of 1.14. The company has a debt-to-equity ratio of 86.79, a quick ratio of 1.73 and a current ratio of 2.14.

Spirax-Sarco Engineering (LON:SPX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported GBX 150 earnings per share for the quarter. Spirax-Sarco Engineering had a return on equity of 16.03% and a net margin of 11.36%. As a group, analysts forecast that Spirax-Sarco Engineering plc will post 334.5410628 earnings per share for the current year.

About Spirax-Sarco Engineering

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.