Spirax-Sarco Engineering (LON:SPX) Trading Down 0.9% – Here’s Why

Spirax-Sarco Engineering plc (LON:SPX) traded down 0.9% during trading on Thursday . The company traded as low as GBX 7,360 ($93.29) and last traded at GBX 7,380 ($93.55). 93,676 shares were traded during mid-day trading, a decline of 63% from the average session volume of 250,080 shares. The stock had previously closed at GBX 7,450 ($94.44).

Analysts Set New Price Targets

SPX has been the topic of several research reports. Shore Capital reaffirmed a “sell” rating on shares of Spirax-Sarco Engineering in a report on Friday, August 30th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 8,150 ($103.31) price target on shares of Spirax-Sarco Engineering in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada reduced their target price on shares of Spirax-Sarco Engineering from GBX 8,000 ($101.41) to GBX 7,000 ($88.73) and set an “underperform” rating for the company in a report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Spirax-Sarco Engineering has an average rating of “Hold” and a consensus target price of GBX 8,672.50 ($109.93).

Spirax-Sarco Engineering Trading Down 0.9 %

The firm has a market cap of £5.43 billion, a price-to-earnings ratio of 2,838.46, a PEG ratio of 2.20 and a beta of 0.68. The business has a fifty day moving average of GBX 6,895.93 and a two-hundred day moving average of GBX 7,792.53. The company has a debt-to-equity ratio of 98.81, a quick ratio of 1.73 and a current ratio of 2.26.

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.