Spirax-Sarco Engineering plc (LON:SPX) Receives £101.50 Average Price Target from Brokerages

Shares of Spirax-Sarco Engineering plc (LON:SPX) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is £101.50 ($127.51).

SPX has been the subject of several research reports. Barclays dropped their price target on Spirax-Sarco Engineering from £105.80 ($132.91) to GBX 9,960 ($125.13) and set an “equal weight” rating for the company in a report on Tuesday, April 9th. Bank of America restated a “buy” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, April 11th. Numis Securities restated a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Thursday, March 7th. Jefferies Financial Group upgraded Spirax-Sarco Engineering to a “hold” rating and set a GBX 9,740 ($122.36) price objective on the stock in a research note on Wednesday, January 31st. Finally, Berenberg Bank raised their price objective on Spirax-Sarco Engineering from GBX 8,800 ($110.55) to GBX 9,800 ($123.12) and gave the stock a “hold” rating in a research note on Friday, March 8th.

Insider Activity

In other news, insider Nimesh Patel sold 660 shares of Spirax-Sarco Engineering stock in a transaction on Monday, March 18th. The stock was sold at an average price of £105.27 ($132.25), for a total value of £69,478.20 ($87,284.17). Corporate insiders own 0.94% of the company’s stock.

Spirax-Sarco Engineering Stock Performance

The firm has a market cap of £6.47 billion, a PE ratio of 3,528.11, a P/E/G ratio of 6.13 and a beta of 0.69. The business’s fifty day moving average price is GBX 9,842.50 and its 200 day moving average price is GBX 9,655.15. The company has a debt-to-equity ratio of 97.01, a quick ratio of 1.73 and a current ratio of 2.26. Spirax-Sarco Engineering has a fifty-two week low of GBX 7,900 ($99.25) and a fifty-two week high of £114.80 ($144.22).

Spirax-Sarco Engineering Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a GBX 114 ($1.43) dividend. This is a positive change from Spirax-Sarco Engineering’s previous dividend of $46.00. The ex-dividend date of this dividend is Thursday, April 25th. This represents a dividend yield of 1.11%. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is presently 6,425.70%.

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.