Spirax-Sarco Engineering plc (LON:SPX – Get Rating) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is £119.93 ($146.95).
SPX has been the topic of several recent research reports. Royal Bank of Canada restated an “underperform” rating and issued a £105 ($128.66) price target on shares of Spirax-Sarco Engineering in a research report on Wednesday, April 13th. Shore Capital reissued a “hold” rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, May 11th. Barclays reduced their target price on Spirax-Sarco Engineering from £135.90 ($166.52) to £111.50 ($136.63) and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Morgan Stanley reissued an “equal weight” rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, May 11th. Finally, Berenberg Bank reissued a “hold” rating and set a £131.20 ($160.76) price target on shares of Spirax-Sarco Engineering in a research note on Wednesday, May 11th.
In other news, insider Nimesh Patel bought 700 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were purchased at an average price of GBX 9,280 ($113.71) per share, for a total transaction of £64,960 ($79,598.09).
Spirax-Sarco Engineering Stock Down 4.2 %
About Spirax-Sarco Engineering
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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