Spirax-Sarco Engineering (LON:SPX) Hits New 12-Month Low – Here’s What Happened

Spirax-Sarco Engineering plc (LON:SPX)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 6,420 ($83.26) and last traded at GBX 6,442.62 ($83.55), with a volume of 46642 shares trading hands. The stock had previously closed at GBX 6,550 ($84.94).

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SPX shares. Royal Bank of Canada dropped their price target on Spirax-Sarco Engineering from GBX 8,000 ($103.75) to GBX 7,000 ($90.78) and set an “underperform” rating for the company in a research report on Thursday, August 15th. Shore Capital reiterated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Berenberg Bank reissued a “hold” rating and issued a GBX 8,150 ($105.69) price target on shares of Spirax-Sarco Engineering in a report on Wednesday, September 25th. Finally, Jefferies Financial Group reduced their target price on Spirax-Sarco Engineering from GBX 9,690 ($125.66) to GBX 9,580 ($124.24) and set a “hold” rating on the stock in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 8,672.50 ($112.47).

Spirax-Sarco Engineering Trading Down 0.6 %

The stock has a market capitalization of £4.79 billion, a P/E ratio of 2,478.85, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The stock’s fifty day moving average price is GBX 7,142.58 and its two-hundred day moving average price is GBX 8,176.72. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 98.81.

Spirax-Sarco Engineering Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be paid a dividend of GBX 47.50 ($0.62) 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 (DPR) is currently 6,230.77%.

Insider Activity

In related news, insider Kevin J. Thompson purchased 640 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of GBX 7,655 ($99.27) per share, for a total transaction of £48,992 ($63,535.21). 0.73% of the stock is currently owned by corporate insiders.

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.