Shares of Spirax-Sarco Engineering plc (LON:SPX – Get Free Report) have earned an average recommendation of “Reduce” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is GBX 9,158 ($116.93).
A number of equities research analysts recently commented on SPX shares. Shore Capital reissued a “sell” rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, May 15th. Berenberg Bank lowered their price objective on shares of Spirax-Sarco Engineering from GBX 9,800 ($125.13) to GBX 8,150 ($104.06) and set a “hold” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada lowered their price objective on shares of Spirax-Sarco Engineering from GBX 8,000 ($102.15) to GBX 7,000 ($89.38) and set an “underperform” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group lowered their price objective on shares of Spirax-Sarco Engineering from GBX 9,690 ($123.72) to GBX 9,580 ($122.32) and set a “hold” rating on the stock in a research note on Friday, July 12th.
View Our Latest Stock Analysis on SPX
Spirax-Sarco Engineering Stock Performance
Spirax-Sarco Engineering Cuts Dividend
The company also recently declared a dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be paid a dividend of GBX 47.50 ($0.61) per share. The ex-dividend date is Thursday, October 17th. This represents a dividend yield of 0.56%. Spirax-Sarco Engineering’s dividend payout ratio is currently 6,230.77%.
Insiders Place Their Bets
In other news, insider Kevin J. Thompson purchased 640 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of GBX 7,655 ($97.74) per share, with a total value of £48,992 ($62,553.63). 0.79% of the stock is owned by corporate insiders.
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.
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