Spirax-Sarco Engineering (LON:SPX) Sets New 1-Year Low – Time to Sell?

Spirax-Sarco Engineering plc (LON:SPX)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as GBX 6,265 ($81.00) and last traded at GBX 6,285 ($81.25), with a volume of 414470 shares. The stock had previously closed at GBX 6,398.20 ($82.72).

Analysts Set New Price Targets

Several research firms have recently weighed in on SPX. Citigroup restated a “buy” rating on shares of Spirax-Sarco Engineering in a research report on Wednesday, March 12th. JPMorgan Chase & Co. reduced their target price on shares of Spirax-Sarco Engineering from GBX 7,800 ($100.84) to GBX 7,700 ($99.55) and set a “neutral” rating for the company in a report on Wednesday, March 12th. Finally, Shore Capital reaffirmed a “sell” rating on shares of Spirax-Sarco Engineering in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of GBX 8,478 ($109.61).

Spirax-Sarco Engineering Trading Down 0.5 %

The company has a current ratio of 2.25, a quick ratio of 1.73 and a debt-to-equity ratio of 98.85. The firm has a market cap of £4.57 billion, a PE ratio of 23.82, a P/E/G ratio of 2.20 and a beta of 0.68. The company’s 50-day moving average is GBX 7,354.98 and its 200 day moving average is GBX 7,099.89.

Spirax-Sarco Engineering (LON:SPX) last issued its quarterly earnings results on Tuesday, March 11th. The company reported GBX 286.30 ($3.70) earnings per share for the quarter. Spirax-Sarco Engineering had a return on equity of 16.58% and a net margin of 11.57%. As a group, sell-side analysts predict that Spirax-Sarco Engineering plc will post 334.5410628 EPS for the current year.

Spirax-Sarco Engineering Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a GBX 117.50 ($1.52) dividend. This is an increase from Spirax-Sarco Engineering’s previous dividend of $47.50. The ex-dividend date of this dividend is Thursday, April 24th. This represents a dividend yield of 1.7%. Spirax-Sarco Engineering’s dividend payout ratio is currently 62.13%.

Insider Buying and Selling

In related news, insider Nimesh Patel sold 697 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of GBX 6,723 ($86.92), for a total transaction of £46,859.31 ($60,580.88). 0.73% of the stock is currently owned by corporate insiders.

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering rebrands as Spirax Group

On 22 February 2024, Spirax-Sarco Engineering changed its name to Spirax Group which reflects the Company’s evolution over many years to a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities.

Our new name respects our history and where we have come from, with who we are today.