Spirax-Sarco Engineering (LON:SPX) Shares Cross Above 200 Day Moving Average of $11,531.35

Spirax-Sarco Engineering plc (LON:SPXGet Rating)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of £115.31 ($141.30) and traded as high as £119.30 ($146.18). Spirax-Sarco Engineering shares last traded at £119.30 ($146.18), with a volume of 88,013 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on SPX. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a £132 ($161.74) price target on shares of Spirax-Sarco Engineering in a report on Thursday, June 30th. Shore Capital reaffirmed a “hold” rating on shares of Spirax-Sarco Engineering in a report on Wednesday, May 11th. Berenberg Bank reaffirmed a “hold” rating and issued a £131.20 ($160.76) price target on shares of Spirax-Sarco Engineering in a report on Wednesday, May 11th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a £105 ($128.66) price target on shares of Spirax-Sarco Engineering in a report on Wednesday, April 13th. Finally, Barclays reduced their target price on shares of Spirax-Sarco Engineering from £135.90 ($166.52) to £111.50 ($136.63) and set an “equal weight” rating for the company in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, Spirax-Sarco Engineering currently has a consensus rating of “Hold” and an average target price of £119.93 ($146.95).

Spirax-Sarco Engineering Trading Up 2.0 %

The company has a market cap of £8.80 billion and a price-to-earnings ratio of 3,751.57. The company has a quick ratio of 1.53, a current ratio of 2.11 and a debt-to-equity ratio of 46.06. The company’s 50-day moving average is £104.61 and its 200 day moving average is £115.31.

Insider Activity at Spirax-Sarco Engineering

In other news, insider Nimesh Patel purchased 700 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were bought at an average price of GBX 9,280 ($113.71) per share, for a total transaction of £64,960 ($79,598.09).

About Spirax-Sarco Engineering

(Get Rating)

Spirax-Sarco Engineering plc provides engineered solutions for the users of industrial and commercial steam systems, electrical heating and temperature management systems, and pumps and fluid path technologies. It offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating and curing, cleaning and sterilizing, hot water generation, space heating, and humidification; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes, heaters, and systems; and peristaltic and niche pumps and associated fluid path technologies, including pumps, tubing, and specialty filling systems and products for single-use applications.

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