Spectris (LON:SXS) Stock Price Up 10.5% – Here’s What Happened

Spectris plc (LON:SXS) rose 10.5% during mid-day trading on Thursday . The stock traded as high as GBX 3,114.76 ($38.34) and last traded at GBX 2,984 ($36.74). Approximately 471,629 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 829,011 shares. The stock had previously closed at GBX 2,700 ($33.24).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a “buy” rating on shares of Spectris in a research report on Thursday. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 4,707.50 ($57.95).

Spectris Trading Up 9.4 %

The company has a market capitalization of £2.92 billion, a P/E ratio of 1,102.66, a PEG ratio of 2.74 and a beta of 0.61. The business has a 50 day moving average price of GBX 2,535.95 and a 200 day moving average price of GBX 2,701.42. The company has a current ratio of 2.36, a quick ratio of 1.03 and a debt-to-equity ratio of 4.37.

Insiders Place Their Bets

In other Spectris news, insider Andrew Heath acquired 2,406 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of GBX 2,480 ($30.53) per share, for a total transaction of £59,668.80 ($73,456.60). Also, insider Alison Henwood bought 19 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of GBX 2,599 ($32.00) per share, with a total value of £493.81 ($607.92). Over the last three months, insiders have bought 14,553 shares of company stock worth $36,045,861. Company insiders own 1.21% of the company’s stock.

Spectris Company Profile

The experts in providing insight through precision measurement.

Our purpose is to deliver value beyond measure – going beyond just the measurement.

Precision is at the heart of what we do. Spectris provides global customers with specialist insight through our high-tech instruments and test equipment, augmented by the power of our software.

Through a combination of our hardware, analytical and simulation software, we provide our customers with superior data and invaluable insights that enable them to work faster, smarter and more efficiently.

This equips them with the ability to reduce time to market, improve processes, quality and yield.