Spirax-Sarco Engineering (LON:SPX) Earns Hold Rating from Berenberg Bank

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

SPX has been the topic of several other research reports. Royal Bank of Canada reduced their price objective on shares of Spirax-Sarco Engineering from GBX 8,000 ($107.12) to GBX 7,000 ($93.73) and set an underperform rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group dropped their price target on shares of 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 research report on Friday, July 12th. Finally, Shore Capital reaffirmed a sell rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Spirax-Sarco Engineering has a consensus rating of Hold and an average target price of GBX 9,158 ($122.63).

Spirax-Sarco Engineering Stock Performance

Shares of SPX opened at GBX 7,645 ($102.37) on Wednesday. The company has a debt-to-equity ratio of 98.81, a quick ratio of 1.73 and a current ratio of 2.26. The company has a market capitalization of £5.63 billion, a price-to-earnings ratio of 2,940.38, a PEG ratio of 2.30 and a beta of 0.68. The company’s 50 day simple moving average is GBX 7,848.05 and its 200 day simple moving average is GBX 8,775.62. Spirax-Sarco Engineering has a 1 year low of GBX 7,075 ($94.74) and a 1 year high of £112.80 ($151.04).

Spirax-Sarco Engineering Cuts Dividend

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

Insider Transactions at Spirax-Sarco Engineering

In other Spirax-Sarco Engineering news, insider Kevin J. Thompson acquired 640 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price 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.

Spirax-Sarco Engineering Company Profile

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.