Spirax-Sarco Engineering’s (SPX) Hold Rating Reaffirmed at Berenberg Bank

Berenberg Bank reiterated their hold rating on shares of Spirax-Sarco Engineering (LON:SPX) in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage currently has a GBX 8,150 ($109.13) price objective on the stock.

Several other brokerages also recently commented on SPX. Shore Capital reaffirmed a sell rating on shares of Spirax-Sarco Engineering in a report on Friday, August 30th. Royal Bank of Canada reduced their target price on Spirax-Sarco Engineering from GBX 8,000 ($107.12) to GBX 7,000 ($93.73) and set an underperform rating for the company in a report on Thursday, August 15th. Finally, Jefferies Financial Group reduced their target price on Spirax-Sarco Engineering from GBX 9,690 ($129.75) to GBX 9,580 ($128.28) and set a hold rating for the company in a report on Friday, July 12th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of GBX 9,158 ($122.63).

Spirax-Sarco Engineering Trading Up 2.1 %

Shares of LON SPX opened at GBX 7,645 ($102.37) on Wednesday. Spirax-Sarco Engineering has a 12 month low of GBX 7,075 ($94.74) and a 12 month high of £112.80 ($151.04). The company has a market cap of £5.63 billion, a price-to-earnings ratio of 2,940.38, a P/E/G ratio of 2.30 and a beta of 0.68. The company has a quick ratio of 1.73, a current ratio of 2.26 and a debt-to-equity ratio of 98.81. The business has a fifty day simple moving average of GBX 7,848.05 and a 200-day simple moving average of GBX 8,762.44.

Spirax-Sarco Engineering Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be paid a GBX 47.50 ($0.64) dividend. This represents a yield of 0.56%. The ex-dividend date is Thursday, October 17th. Spirax-Sarco Engineering’s dividend payout ratio is currently 6,230.77%.

Insider Buying and Selling

In other news, insider Kevin J. Thompson bought 640 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of GBX 7,655 ($102.50) per share, with a total value of £48,992 ($65,602.57). Company insiders own 0.73% of the company’s stock.

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.